Joint Statement
The presidents of the International Council of Marine Industry Associations (ICOMIA), the European Boating Industry (EBI) and the National Maritime Manufacturers Association (NMMA), organisations representing marine professionals on both sides of the Atlantic, have signed a joint statement to express their concerns about the impact on the marine sector the economic war launched by President Trump .
Boating, a sector of weight
The signatories recall the importance of yachting in the American and European economies. "In the United States, the boating industry contributes 38.2 billion dollars to GDP, through 35,000 companies and 650,000 direct and indirect jobs. In the European Union, it has more than 32 000 companies, directly employing more than 280 000 people and generating an annual turnover of around 20 billion euros."
Measures that will not protect
Those in charge of the sector are concerned about the risk of market imbalance. "In Europe, the inclusion of boating in the list of customs reprisals will not protect European industry and will add weight to the shoulders of American boat builders:
- The EU is the 2nd largest trading partner for US shipbuilders. In 2017, 217.4 million boats and 148.3 million American engines were exported to the EU, representing 18.4% of US exports.
- 12 to 30% of the final price of a boat from the USA sold in the EU is due to the services necessary for marketing, distribution, installation of locally purchased equipment, transport, commissions and agents. This money contributes directly to the economies of EU Member States.
- The segmentation of the market is such that all American boats sold in Europe could not easily be replaced by units built in Europe."
Call for the abolition of taxes
Finally, the signatories call on the political leaders, as in the past, to greater regulatory harmonisation and the removal of customs barriers. "We reiterate our conviction that a reasonable and fair partnership between the US and the EU, which does not endanger growth, jobs and innovation, is the only sustainable path
