The US Commerce Department is reviewing a new and extensive list of global imports to be targeted for “steel derivative” tariffs. About 700 items, including bicycles, commercial baking pans, steel truck wheels, and even products with simple metal bolts, are on the potential hit list.
This is the second such consultation in three months, following a list of 407 products approved in August. That initial list, which hit items like combine harvesters and some furniture, was approved with what experts call a near-100% success rate. This has encouraged US firms to submit even more requests before the October 21 deadline.
The requests paint a picture of a US industry feeling under siege. Guardian Bikes in Indiana told the Commerce Department the US bike industry “was lost” due to 11 million imports. Kitchenware makers American Pan and Chicago Metallic complained of an “unfair” advantage held by low-cost Chinese products.
This protectionist push is causing alarm bells to ring for global exporters. Manufacturers in Europe, who had reconciled themselves to new trade deals with the US, now face an unexpected new hurdle. They fear a “rolling and growing” list of tariffs that will be added on top of their agreed-upon baseline rates.
A decision on which of the 700 products will be included is expected in December. For trade analysts, this move highlights a new “expansionist” policy by the US, creating significant uncertainty for allies in the UK and EU.