The alternative to protectionism is Chinese-style industrial policy. Which necessitates Chinese-style "we don't care if you're a billionaire, you will do as we say or men with guns will make you" levels of governmental control. Which I'm not sure any of us really want, as satisfying as it would to watch these CEOs get publicly re-educated.

They aren't patriotic and they don't really care about competing with China, they fancy themselves princes and are playing on the silents/boomers in charge being irreparably stuck in the Cold War.