Is your garage heated? If so, you might be ok. If not, the temp swings will produce moisture on the cart. And no on the trash bags regardless as they will trap any moisture and accelerate the rusting. You'd want air circulating around it to dry it out. Is it raw steel or finished? Any pics?

Hi Steve and thanks for your comment. No, our garage is not heated. The steel is finished with paint. It is a storage cart with mesh drawers and flat top. I was hoping to get it out of the house, as we'd like to use it for the small coal grill we have. Perhaps wrapping it in a cover first might help, then tossing in one of those large silicone packets before sealing the bag? Just a thought. Thanks for your reply. ~ Sandy

You need a rust inhibitor. Starrett M1 and Boeshield are a couple. I use Slip-it for my wood working machinery. This also makes the surface slick so boards move across. You may not want that property.

There are also some anti-rust things you can put in the closed drawers (and perhaps under your plastic cover) that will inhibit corrosion. It's more than just a desiccant.

Ron, thanks! I'll check into it. ~ Sandy