You're just going to Galapagos your economy. Consumers won't put up with high prices and inferior goods. Unless you want to restrict internet/information access so your consumers don't know what they are missing out on.
You can't because they didn't sell out completely. In fact they still have some power to protect the companies from foreign products.
The result is a mishmash of protectionism and globalization.
Humans are weird.
Paying high prices and losing your job are bad, but not as bad as changing your mind.