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Freeze on tariffs on American boats entering Europe
Tariffs affect the importation of tenders built in the US
On June 1, 2021, tariffs on U.S. built boats and engines entering the EU were set to increase from 25% to 50%. However, on May 18, an agreement was reached to freeze the increase. The tariffs have been causing headaches and additional paperwork for the importations of tenders.
For now, the 25% tariffs remain in place but EU and US government negotiators are focused on reaching agreement that will permanently reverse tariffs by the end of 2021.
The National Marine Manufacturers Association (NMMA), the European Boating Industry (EBI) and the International Council of Marine Industry Associations (ICOMIA) jointly lobbied against the tariffs which caused a 40% decrease in American boat exports. The tariffs on US built boats and engines had been imposed in retaliation to the previous US administration’s tariffs on EU goods.
Follow the link to find out more about importing US build boats and engines.
For now, the 25% tariffs remain in place but EU and US government negotiators are focused on reaching agreement that will permanently reverse tariffs by the end of 2021.
The National Marine Manufacturers Association (NMMA), the European Boating Industry (EBI) and the International Council of Marine Industry Associations (ICOMIA) jointly lobbied against the tariffs which caused a 40% decrease in American boat exports. The tariffs on US built boats and engines had been imposed in retaliation to the previous US administration’s tariffs on EU goods.
Follow the link to find out more about importing US build boats and engines.
