A broad coalition of American companies, producing everything from consumer goods to heavy industrial machinery, has united to ask the US Commerce Department for new tariffs. They have proposed about 700 new items for inclusion on the “steel derivatives” list, citing unfair foreign competition.
The requests, which had an October 21 deadline, come from firms like Guardian Bikes in Indiana, tomato-canner Red Gold, mattress spring companies, and manufacturers of 200 different industrial machines used in tunnelling and printing. This follows a successful campaign in August that added 407 items to the list.
The companies’ argument centers on a competitive imbalance. US firms must pay high tariffs on the raw steel they import, while foreign companies can export finished goods containing that same steel to the US without a comparable levy, allowing them to “flood the market” at lower prices.
This domestic campaign is causing international alarm. European exporters, who believed their trade agreements with the US had settled tariff rates, now face a new, additional layer of taxes. They argue this “makes a mockery” of the deals.
With a near-100% success rate for the previous requests, it is widely expected this new list will be approved in December or January. This signals a “liberal, expansive approach” by the US, creating significant trade uncertainty.