Alleging “unfair” foreign competition, American firms like Guardian Bikes and Red Gold canning are spearheading a push for new tariffs on 700 products. In detailed pleas to the Commerce Department, they argue that import loopholes are destroying domestic industry.
Guardian Bikes claimed the US bike industry “was lost” from 11 million imports. Red Gold argued it’s “unfair” that it pays 25-50% tariffs on raw tinplate steel, while foreign firms can import finished cans with “no comparable tariff.”
These arguments are part of a larger campaign by US firms making everything from mattress springs to baking pans. This is the second such request in three months, and the first one in August (for 407 items) had a near-100% success rate.
This has European exporters deeply concerned. They fear a “rolling and growing” list of tariffs that will be added on top of the baseline rates in their existing trade deals (10% for UK, 25% for EU).
This “additive” tariff, they argue, “makes a mockery” of the stability the trade pacts were supposed to provide. A decision on the 700 items is expected by January.
Analysts warn this “expansionist” US policy, with its “liberal” approval process, is creating significant trade uncertainty, even with allies like Italy and the UK.
