The US Department of Commerce is poised to approve new tariffs on 700 steel-based goods, from bicycles to baking pans, following a flood of requests from American industry. This is the second such consultation in three months, and it has global exporters bracing for impact.
The requests were submitted before an October 21 deadline. They came from firms like Guardian Bikes, which claimed 11 million imports “lost” the US industry, and Red Gold, which argued it pays high steel tariffs while foreign can importers do not.
The high likelihood of approval is based on precedent. In August, 407 items were added to the “steel derivatives” list with what experts call a “near 100% success rate.” This has led to fears that this new, larger list will also be rubber-stamped.
This policy is causing alarm in Europe. The UK and EU, which have separate trade deals with the US, now face an additional tariff on top of their agreed-upon baseline rates. They argue this “makes a mockery” of their agreements.
A decision is expected in December or January. Analysts warn this “expansionist” US policy is creating significant trade uncertainty for its allies, despite the formal pacts.
