More tariffs on U.S. imports from Europe seem likely, as small, medium and large American companies have asked the U.S. Department of Commerce (DOC) to add punitive taxes on goods ranging from bicycles to baking trays, reports the Guardian.
U.S. companies have asked the DOC to add about 700 more items to an August list of 407 products already facing extra tariffs because of their steel content, stoking fears across Europe of a rolling and growing list of “steel derivatives” that will now face levies because they contain the metal.
Under new trade frameworks struck earlier this year with President Donald Trump, manufacturers across Europe were already bracing for tariffs, with the U.K. agreeing to pay a baseline tariff on all goods of 10% and a 25% one for steel, while the EU agreed rates of 25% and 50% respectively.
But now, the Guardian says, exporters argue the new derivative tariffs make a mockery of these agreements, because they mean many goods could soon face paying the higher rate on their steel content, on top of the baseline rate.
The latest requests for tariffs on products with steel elements came ahead of an October 21 deadline set by the DOC, the second consultation in three months.
Among those submitting requests to the U.S. commerce department are Guardian Bikes in Indiana, the tomato-canning company Red Gold, firms making steel wheels for trucks, a mattress spring company and manufacturers of 200 industrial machines used in everything from tunnelling, printing and flooring.
A decision on which products are included for the new batch of tariffs is expected to be made in December, 60 days after the deadline for requests.
