New year sees end to retaliatory tariffs on American boats entering EU

With the advent of the new year, the European Union’s (EU) 25% 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.