Well, that's why Europe is blanketed in riots right now.
Disenfranchised people enraged at the governing concept of "taxing middle class people who can't just move to a lower-tax jurisdiction"
Taxing the hell out of foreign goods would just mean the company now plays a two pronged game - manufacturing where the least regulation is present, and selling at the country with the highest price point who doesn't outright refuse to let you extract their nation's wealth.
It's a tricky problem but your answer to it is untenable unless you want people to riot more.