EU-US reach agreement to continue suspension of Section 232 Tariffs
by National Marine Manufacturers Association 23 Dec 2023 08:08 PST
Advocacy update © National Marine Manufacturers Association
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.
Continue reading the full article here...