Recreational Boating Industry Celebrates End to Retaliatory Tariffs on U.S. Boats Entering EU
Effective January 1, 2022 the European Union’s (EU) 25 percent retaliatory tariff on American-made boats has been lifted, per the agreement reached late last year between representatives from the U.S. Department of Commerce and Office of the U.S. Trade Representative and their respective EU counterparts.
Announced in November, the agreement to remove the retaliatory tariff imposed on U.S. boats entering the EU was a momentous victory for the industry, which is the number one contributor to the $689 billion outdoor recreation economy.
In line with the full removal of the EU’s retaliatory measures, the U.S. recreational boating industry and marine manufacturers are no longer saddled with a structural disadvantage to international competitors and will continue exporting, with no additional tariff, American-made boats to Europe, the industry’s second largest international market.
Since the tariffs were first implemented in 2018, the NMMA team has dedicated significant attention and resources to resolving this issue and will continue to monitor emerging trade issues affecting the recreational boating community. For questions or additional information, please contact Clay Crabtree, director of federal government relations, at [email protected]