One of Europe's biggest farm machinery firms halts US exports over hidden' tariffs
Briefly

One of Europe's biggest farm machinery firms halts US exports over hidden' tariffs
"has been forced to pause exports of large equipment to the US because of alarming and little-known new tariffs that are hitting hundreds of products from knitting needles and hair dryers to combine harvesters. Among the products on the steel derivatives list drawn up in consultation with US manufacturers, Donald Trump is taxing 407 specific products ranging from tiny embroidery stilettos to cooker hoods, barbecues, fridges, freezers, dishwashers, hair curling tongs, grills, elevators, bridge and railway structures, agriculture equipment and wind turbines."
"companies such as Krone and the construction company Liebherr in Germany have to provide an unprecedented level of detail to customs border authorities certifying the origin, weight and value of any steel in their products right down to nuts and bolts. You have to get paperwork from the supplier to the supplier to the supplier. That is pretty much impossible, said Oliver Richtberg, the head of foreign trade at the German engineering federation VDMA, one of the most influential trade bodies in Europe."
"He described the EU/US trade deal, struck in July, as not worth the paper it is written on. Von der Leyen speaks of stability, for our industry that is 100% not true. The bureaucratic hurdles are so high that some companies have just stopped exporting to the US, added Richtberg. Krone, which is based in Lower Saxony in Germany and has 10,000 employees, was among those immediately hit. Bernard Krone, the boss of Krone, said the new tariffs came as a big shock'."
European manufacturers are facing new US tariffs targeting 407 specific steel-derivative products, covering items from knitting needles to combine harvesters and wind turbines. Since 18 August exporters must certify origin, weight and value of any steel in products down to nuts and bolts, requiring supplier-to-supplier paperwork. German trade bodies call the paperwork practically impossible and say the EU–US deal offers no real protection; bureaucratic hurdles have led some firms to stop exporting to the US. Major companies including Krone and Liebherr report immediate impacts; Krone's US market was worth about $130m annually and described the tariffs as a big shock.
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