EU threatens retaliatory tariffs on U.S. goods, targets recreational boats
In response to last week’s action by President Trump to impose a worldwide tariff on steel and aluminum imports, the European Union announced yesterday preparations to place punitive tariffs on many popular US products, including recreational boats. Should the EU go forward with a tariff on recreational vessels, the impact on the marine industry will be felt by aluminum and fiberglass boat imports alike, as well as engine, accessory and component manufacturers. Other countries are publically contemplating similar action which could send the US into a trade war with key allies.
The President’s authority to issue these tariffs stems from section 232 of the Trade Expansion Act, and has been met with significant opposition from domestic manufacturing industries and members of Congress on both sides of the aisle on Capitol Hill. The 10% tariff on aluminum is separate from the Department of Commerce anti-dumping and countervailing duty investigation on common alloy aluminum sheet from China. NMMA has been actively engaged with the sheet aluminum investigation, which could result in an additional 56% anti-dumping and 40% countervailing duty.
In the coming days, NMMA will be reaching out to its members to share their voice as we ensure our position and concern are heard loud and clear. Information on how members can help NMMA take action will arrive via email.
In the meantime, for more information, please contact Nicole Vasilaros, vice president of federal and legal affairs, at [email protected].