Tariffs on USA boats remains in place

A recent agreement between the USA and the European Union (EU) approved a four month pause on tariffs related to the World Trade Organization (WTO) Aircraft disputes, but it did not address the U.S. Section 232 tariffs on steel and aluminum or the 25 percent retaliatory tariff on American boat exports to the EU.

According to the National Marine Manufacturers Association, the EU retaliatory tariff on American made boats are set to increase to 50 percent on June 1, 2021. Since the 25 percent retaliatory tariff went into effect in 2018, American boat exports to the EU — the industry’s second largest international market — have decreased by 42 percent.

Source: NMMA