U.S. and UK to Enter Bicameral Negotiations to Address Retaliatory Tariffs on U.S. Boats Entering UK
United States Secretary of Commerce Gina Raimondo, Trade Representative Katherine Tai and United Kingdom (UK) counterpart, Secretary of State for International Trade Anne-Marie Trevelyan, announced last week the parties would enter bicameral discussions to address the UK’s retaliatory tariff imposed on U.S. goods entering the UK, including American-made boats.
Following the successful negotiations last year between the European Union (EU) and U.S., which resulted in the full removal of the 25 percent retaliatory tariff imposed on U.S. boats entering the EU, the NMMA has urged the Biden administration to swiftly follow course and reach a resolution with the UK in a letter sent late last year.
Since the steel and aluminum tariffs went into effect in 2018, America’s strongest allies and trading partners have placed retaliatory tariffs on uniquely American products, including recreational boats. As a result, the industry has faced significant revenue setback. While the industry is once again on a level playing field with international competitors in Europe, negotiations remain to be reached with the UK so that boat builders can begin restoring their presence there.
For questions for additional information, please contact Clay Crabtree, director of federal government relations, at [email protected]