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The United States and European Union (EU) have reached an agreement to not reimpose Section 232 tariffs on steel and aluminum imports from the EU and Europe’s retaliatory tariffs on American exports into the EU, including American-made boats. This has remained a top priority for the NMMA, as the Section 232 tariffs caused several key international markets, including the EU, to impose retaliatory tariffs on uniquely American products.

On December 19, the EU announced that it would extend the current suspension of tariffs on American products until March 31, 2025. U.S. and European officials have consistently met over the past couple years, and most recently, in Washington, D.C., to discuss several geopolitical and economic issues. While a permanent resolution to end the Section 232 tariffs and subsequent retaliatory tariffs on American products, such as recreational boats, remains elusive, extending the time for negotiations and continuing to suspend tariffs on U.S. products is a positive step forward.

Earlier this month, NMMA joined more than 80 organizations, including international boating partners, to reiterate its call for the Biden administration to reach an agreement with the EU to end the Section 232 steel and aluminum tariffs and subsequent retaliatory tariffs on American-made boats.

In 2021, the Biden administration reached a temporary agreement with the EU to end both the Section 232 tariffs and retaliatory tariffs; however, the EU’s retaliatory tariffs were set to go back into effect on January 1, 2024. The NMMA joined 83 organizations urging the administration to end the Section 232 tariffs, noting “At a time of increased geopolitical tensions and volatility, the permanent removal of tariffs on unrelated sectors will support efforts to grow the transatlantic economy and enable our sectors to play a full part in addressing global challenges.”

For more information, please contact NMMA director of federal government affairs, Clay Crabtree at [email protected].