European Boating Industry (EBI) urges both sides to engage in negotiations to resolve issue

The EU Commission today announced the return of retaliatory tariffs against US products that include US recreational boats. This is as a reaction to the US steel and aluminium tariffs announced by the US Administration in February.

On 12 March, the US imposed tariffs of up to 25% on imports of steel, aluminium, and certain products containing steel and aluminium from the European Union and other trading partners. In response, the Commission is launching a series of countermeasures to protect European businesses, workers and consumers from the impact of these unjustified trade restrictions.

“The imposition of retaliatory tariffs, as seen between 2018 and 2021, would have significant negative consequences,” reads the statement. “Tariffs disrupt businesses, hinder economic growth, and jeopardize jobs, particularly for small and medium-sized enterprises (SMEs) that form the backbone of the boating industry in Europe and the EU as a whole.

“It is important to note that these tariffs are unrelated to the recreational boating sector, arising from the dispute over steel and aluminum. They would negatively impact European industry and the EU’s competitiveness goals and carry unintended consequences. The permanent removal of tariffs on unrelated sectors, such as recreational boats, would instead support economic growth on both sides of the Atlantic.”

EBI is engaging in ongoing dialogue with the EU Commission, its partners the US, and other affected European sectors. The recreational boating industry, uniquely ‘Made In Europe’, consists of over 32,000 businesses and directly employs more than 280,000 people. Over 96% of businesses in the sector are SMEs. Source : IBI and EBI. EBI
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