They only lead to higher costs and/or a festering, shambling corpse of domestic production that is a shell of its former self.
The US has done this multiple times already and the result is always the same.
Numerous countries have done this and the result is always the same.
The results, everywhere, every time, forever, are always the same.
Higher prices, stagnant markets, eroding capabilities, higher and higher tariffs and/or subsidies to keep it all propped up.