Steel dumping anecdote:
In the sixties and later Japan was dumping steel to America.
Japan has no iron as a natural resource, how could they do
that?
Easy, they bought the raw material from us shipped it to
Japan, processed it then shipped it back over here and sold
it back to us.
So why didn't we process the iron here?
Because unions increased the cost so much it was cheaper to
export the mineral then bring it back as steel.