Near 100% Success Rate Fuels New Wave of US Tariff Demands

A near-100% success rate for US companies seeking tariffs in August has triggered a second, larger wave of requests. American firms have now asked the US Department of Commerce to add approximately 700 more items to the “steel derivatives” tariff list, which targets products containing steel.
This new consultation, which had a deadline of October 21, has drawn in businesses from across the US economy. Manufacturers of bicycles, industrial machines, mattress springs, and even commercial baking pans have all submitted requests for protection, often citing “unfair” competition from China.
However, the impact of these tariffs is global, ringing alarm bells across Europe. Businesses in the UK and EU fear this “rolling and growing” list will subvert their existing trade deals. Those deals set baseline tariffs (10% for UK, 25% for EU) but did not anticipate this new, additional “derivative” levy on steel content.
Experts like George Riddell of Flint Global confirm these fears, noting the US has taken a “liberal, expansive approach” to approvals. This “expansionist” policy, he adds, highlights the “uncertainty in the relationship” with the UK and EU, despite the deals being in place.
A decision on the 700 new items is expected in December or January. If approved, as is widely anticipated, it will mean imported goods from Italian bike makers to German machinery producers will face a costly new border tax.