The Tariff Tsunami: EU Fears a New Wave of Redundancies from US Policy

The European industrial sector is bracing for a potential “tariff tsunami” that could lead to a new wave of redundancies, as the US prepares to expand its list of goods subject to steel duties. For a sector already hit by overcapacity and cheap foreign imports, this new pressure from a key trading partner is a devastating blow.
The fear is centered on the US’s “derivative” products list. This policy has already pulled 407 categories of manufactured goods into the tariff net. With a new consultation underway, there is a widespread belief that this net is about to be cast even wider, catching more industries and threatening more jobs.
This escalating policy is seen as a direct threat to the viability of European manufacturing. Eurofer, the steel trade body, has warned that the latest developments endanger not just the steel sector but “EU manufacturing as a whole, and the millions of quality jobs they sustain in Europe.”
The anxiety is particularly acute in the UK, where trade unions and British Steel are already warning of “unprecedented challenges.” Their campaign for a pledge to support the domestic industry is a direct response to the fear that more redundancies are on the horizon without decisive action.
As the waves of this tariff policy continue to build, the focus in Europe is shifting towards defense. The calls for strong new trade measures are a sign that the industrial community believes a tsunami is coming and that robust sea walls are needed to protect the continent’s economic heartland.