Hmm...let's see. I know absolutely nothing about the quality of US-vs-Chinese steel but, assuming everything you say is true, that means companies buying steel

Hmm...let's see. I know absolutely nothing about the quality of US-vs-Chinese steel but, assuming everything you say is true, that means companies buying steel are perfectly fine buying low quality steel. And they will be perfectly fine buying low quality steel, regardless of where the supplier is located. So, what will inevitably follow is that US steel manufacturers will lower the quality of their steel to match Chinese's, while keeping the price high. The result - US consumers paying more for the same shitty quality steel.