That story passed me by. The picture being used represents the British state buying a steel works in Scunthorpe. The Chinese owners were going to close it down. That would have left us unable to produce certain types of steel. It's about not counting on "allies".
Maybe the point is if they invest in the steel works within the country it will at least keep the UK from buying imported steel and therefore not paying a tariff. With that said it will not help if the steel works produces excess and needs to export. This is the double edge sword to trade war.
Gov says the works produce high quality steel for rail roads and weapons etc. If that steel works goes we HAVE to import that type of steel. If there's an emergency (war) we have no steel The Chinese said they were losing millions a year and wanted to change to a different type of steel produced
Yes sound all too familar, world trade is definitely a cause for all free trade nations to have to walk a tightrope. Trump's outlandish policies are bringing a "emergency" status to all nations. Achieving a balancing act to this "stoke the fire" approach is only meant to cause strife and division.