U.S.-EU Agreement to Halt Tariffs on U.S. Recreational Boats announced
May 25, 2021
The U.S. and European Union (EU) last week announced that the parties had reached an agreement to suspend the June 1 increase of tariffs on U.S. boats entering the EU, effective immediately.
On behalf of the collective 1 million jobs and 67,000 businesses supported by the industry on both sides of the Atlantic, European Boating Industry (EBI), International Council of Marine Industry Associations (ICOMIA), National Marine Manufacturers Association (NMMA) applaud the negotiations and call for continued discussions to strengthen trade relations between the trade blocks.
The work of NMMA with the US administration, the close interaction of EBI with the EU institutions and ICOMIA at a global level over the past years and months have been instrumental. Given the long-standing and fruitful nature of these joint efforts, EBI, ICOMIA and NMMA are committed to further strengthening their cooperation in the upcoming months to ensure that all barriers to trade are eliminated.
“We welcome the agreement reached by U.S. and EU negotiators this week to prevent the doubling of retaliatory tariffs on recreational boats made in the U.S., entering the European market. EBI, ICOMIA, and NMMA are encouraged by both parties’ commitment to resolving this underlying trade issue. As negotiating parties continue discussions that will ultimately resolve the imposed tariffs on U.S. steel and aluminium – most importantly, the 25% tariffs on U.S.-made boats – we look forward to working with representatives on both sides of the Atlantic to achieve this objective.”
