Today: Section 232 Steel and Aluminum Tariffs take effect; EU Retaliates with tariffs on boats
by National Marine Manufacturers Association 12 Mar 2025 18:19 PDT
New Advocacy alert © National Marine Manufacturers Association
The Trump administration's reinstated Section 232 tariffs on steel and aluminum imports take effect today, imposing a 25% tariff on all imported steel and aluminum. In response, the European Union announced today $28 billion-worth in retaliatory tariffs, which includes recreational boats. Canada also announced retaliatory measures on $21 billion worth of U.S. goods.
Frank Hugelmeyer, President and CEO of the National Marine Manufacturers Association, released the following statement in response to the EU's retaliatory tariffs on recreational boats:
"The European Union's decision to reimpose tariffs on U.S. boats will cripple American manufacturers, workers, and the thousands of businesses that power our industry. It is unfortunate that the EU has moved to retaliate. It's an unfair punishment to American workers, manufacturers and small businesses that support more than 812,000 American jobs and contributes $230 billion to the U.S. economy annually. NMMA encourages President Trump and his administration to work with EU leaders to secure a permanent resolution that removes recreational boats and engines from the tariff list. The U.S. and EU must prioritize a solution that protects American jobs, strengthens manufacturing, and ensures fair market access for American-made products."
Continue reading the full article here...