US Tariff List to Swell by 700 Items, Hitting Global Exporters

The US “steel derivatives” tariff list is expected to swell by 700 items, hitting global exporters from Europe to Asia. The expansion comes at the request of hundreds of American firms, who petitioned the Commerce Department before an October 21 deadline, with a decision expected by January.
This follows a highly successful campaign in August that saw 407 products added to the list. The near-100% success rate of that round has spurred this new, larger request. The items range from consumer goods like bicycles to industrial items like truck wheels and tunnelling machines.
The US companies, such as Guardian Bikes and Red Gold canning, argue they are being undercut. They claim they pay high tariffs on raw steel, while foreign competitors can import finished goods without a similar penalty, creating an “unfair” market.
This “expansionist” policy is ringing alarm bells in Europe. The UK and EU, which have separate trade deals with the US, now face an additional tariff on their steel-containing goods, on top of their baseline rates (10% and 25% respectively).
This “additive” tariff, European exporters complain, “makes a mockery” of their agreements. It creates a “rolling and growing” list of taxed goods that is unpredictable and undermines the stability the trade pacts were supposed to provide.
Analysts warn this move is creating deep “uncertainty in the relationship” with US allies. The tariffs, though often justified by citing competition from China, will be applied globally, impacting allies like Italy and the UK.