EU Tariffs on U.S. Boats To Double on June 1
The European Union’s retaliatory tariffs on U.S. boats is scheduled to increase, up to 50 percent, on June 1, a move that will cut even deeper into U.S. exports to that market. The current tariff is 25 percent. The National Marine Manufacturers Association says that since the tariff went into effect in 2018, U.S. boat exports to the EU have fallen by 42 percent. The EU is the U.S. boating industry’s second largest international market, after Canada. Earlier this year, the Biden Administration and the EU agreed to a four-month pause on tariffs related to World Trade Organization aircraft disputes,…