Yea, the sad and sometimes humours story of tariffs and countervailing tariffs. When you throw in today's global supply chain into the mix you get some thrills too. If the part or raw materials you need to make a product that is competitively priced suddenly has a tariff on it you may not be able to compete globally and so you may have to lay workers off or worst case scenario close shop.
Add in countervailing tariffs and you suddenly can not sell into markets you have come to depend on taking your product as it is now more expensive than the same thing supplied from other countries. Now you suddenly have an over capacity to produce this product that your domestic market can not use the excess you now have. Now you have several choices to cope with that situation. Sell into those markets that have countervailing tariffs on your product at reduced prices that are possibly below what it costs you to produce it killing any profit. Find other markets quickly that do not have countervailing tariffs on your product which is difficult to do in the short term as it takes years to fully develop new markets. This can lead to the government who has had countervailing tariffs place on their countries products to bail outs to effected industries in the short term or subsidize these industries in the long term. That is with tax payers money, naturally, which is really a hidden tax on everyone in that country.
All that is only in the first round of a tariff war. It gets even better if countries involved keep escalating the number of tariffs and countervailing tariffs in subsequent rounds. It becomes very hard to stop that vicious cycle the longer it goes on. Nobody wants to take the political fallout associated with being the first one to blink and drop their tariff or countervailing tariff.
Everyone who is important, the citizens of the countries involved, ultimately are losers. In this atmosphere of "if I have to dance you will have to dance" we are all going to look silly when we have finished cutting our noses off despite our faces.
Bob