You mean this fixes the first order effect that penalizes domestic manufacturers, assuming correct information. It does not solve it, there's second, third, fourth, ... order effects. And there's no rule those are smaller than first order, in fact, they're almost universally more.

Domestic manufacturers are still disadvantaged by having to pay tariffs for materials used for the product, but not present in the final product. And foreign manufacturers still don't. If used in machines (and used up), used in mining (and used up), used in transport, used in energy production, ...

These costs are very large, especially because specific materials are often not available worldwide, or have large differences in quality due to availability of tiny amounts of additives for alloys or compounds. These things do lead to very large differences in quality, and thus in value. You can't model that as a government, it's just not going to happen.

There's no way to fully analyze an entire economic chain (especially when almost everyone involved has a financial incentive to sabotage you doing that correctly, and that includes foreign governments). You'd think this wouldn't have to be explained to either Americans or especially a supposed "defender of capitalism", but here we are.