U.S. and European Union finalize trade deal, recreational boats exempt from retaliatory tariffs
by National Marine Manufacturers Association 28 Jul 15:11 PDT
Manufacturing with American Flag © National Marine Manufacturers Association
In a significant development for American marine manufacturers, the United States and the European Union have reached a trade agreement that spares U.S.-made recreational boats and marine engines from a new round of retaliatory tariffs.
President Trump announced the deal Sunday, July 27, establishing a 15% baseline tariff on European imports while allowing for targeted exemptions in key industries. In return, the European Union agreed to suspend its previously announced 30% retaliatory tariffs on American products, including recreational vessels.
This outcome marks a reprieve for U.S. boat and engine builders, who export more than $2.3 billion in marine products annually to markets around the world. The EU is one of the largest destinations for American-made boats, making tariff stability critical to U.S. competitiveness.
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