Trade agreement reached between the USA and Europe - MarineBusinessWorld North America newsletter
by Peter Rendle 30 Jul 08:00 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 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 week, leading voices from the recreational boating industry across the globe issued a joint statement calling on their respective governments to adopt trade policies that promote stability, reduce tariffs, and protect the integrity of cross-border supply chains. Representing thousands of small businesses and millions of skilled jobs, the statement underscores the essential role of the marine manufacturing sector in fuelling economic growth, preserving local craftsmanship, and expanding outdoor recreation access worldwide.
Continuing its expansion and focus on customer experience, Palm Beach Motor Yachts is excited to announce that yacht sales professional Ted Gersen has joined the company's Newport, Rhode Island team. Gersen is a highly respected luxury yacht broker with more than 25 years of experience representing premium global yacht brands.
From Africa, the Balance 750 has officially launched, marking a bold new chapter in luxury performance catamaran sailing. As the new flagship of Balance Catamarans, the 750 pushes the boundaries of what's possible at sea by uniting raw sailing power with elevated design and comfort. "With this launch, we've fully executed on our vision of handcrafting cutting-edge catamarans from 46 to 75 feet whose exciting high performance is purposefully coupled with unrivalled luxury, quality, and comfort," said Phil Berman, founder and president.
Also from the same region, and as Ullman Sails celebrates 58 years of global innovation in sailmaking, the company is reinforcing its leadership position by supporting and participating in the African Boating Conference, taking place in Cape Town, 21-22 October. To spotlight these developments and champion the African marine industry, Michael England, CEO of Ullman Sails South Africa, will join a high-profile panel at the conference. With extensive experience in international manufacturing and trade, Michael will offer insights into how local innovation and strategic global partnerships are reshaping Africa's position in the world of sailing.
The African Boating Conference, the continent's inaugural industry conference and South Africa's flagship boat show will run in tandem, a strategic alignment that promises to draw delegates, exhibitors, and stakeholders from across the region and beyond. The boat show, taking place from 24-26 October at the V&A Waterfront, will directly follow the African Boating Conference (21-22 October), offering attendees a unique opportunity to transition from high-level dialogue into real-time market engagement.
Peter Rendle - peter.rendle@worldmarine.media