European industry leaders are expressing deep fear and frustration over a new wave of expected US tariffs. They warn that a “rolling and growing” list of “steel derivatives” is effectively making a mockery of the trade frameworks laboriously negotiated with the US.
The UK, for instance, had agreed to a baseline tariff on all goods of 10% and 25% for steel. The EU had agreed to 25% and 50% rates. However, the US Commerce Department is now poised to add 700 new items to a separate tariff list, which would impose additional levies on the steel content of finished goods, on top of the baseline rates.
This action comes at the request of American firms. Companies making bicycles, mattress springs, and industrial machines have all petitioned the US government, claiming they are being undercut. They point to competitors, particularly from China, who they say are “flooding the market” with low-cost, steel-containing products.
The concern in Europe is amplified by past precedent. An earlier list of 407 products in August was approved with an almost perfect success rate for the American companies that applied. Experts now fear that the US is operating an “expansionist” policy with a “liberal” approach to approvals, as noted by George Riddell of Flint Global.
With a decision on the 700 new items expected in December or January, European exporters are bracing for impact. The move signals significant uncertainty in the trade relationship, suggesting that formal deals offer little protection against this new, additive tariff strategy.