US Firms See “Near 100% Success” in Tariff Bids, Sparking Global Alarm

A “near 100% success rate” for American firms seeking tariffs has sparked global alarm, as a new, larger list of 700 products is now on the table. The US Commerce Department is expected to approve these new “steel derivative” tariffs in December or January, hitting exporters worldwide.
The first round in August saw 407 items added, encouraging a flood of new applications for this second round. US companies, from bike makers to cookware producers, have argued that “unfair” competition from imports is destroying their industries.
For example, Guardian Bikes claimed the US bike industry “was lost” dueto 11 million imports. Red Gold canning complained it pays high tariffs on raw steel while foreign can importers do not. These arguments are finding a receptive audience.
This is creating a “rolling and growing” list of tariffs that is causing anxiety in Europe. The UK and EU, which have separate trade deals, now face an additional tariff on their steel-containing goods, on top of their baseline rates.
Analysts warn this “expansionist” US policy is creating deep “uncertainty in the relationship” with its key allies. The tariffs, though often aimed at China, will be applied globally.