Raise taxes on recreational boating, in the wake of ongoing negotiations
The 3 main organisations representing the boating industry in the United States and Europe, the International Council of Marine Industry Associations (ICOMIA), European Boating Industry (EBI) and the National Marine Manufacturers Association (NMMA), have signed a joint letter addressed to Robert Lighthizer and Vladis Dombrovskis, in charge of trade negotiations for the USA and the European Commission. In the letter, they call on political leaders to take advantage of the positive momentum after a first agreement on lobster fishing to tackle the 25% tax imposed by the European Union on imports of recreational boats from the United States. The tax was introduced in 2018 in retaliation for Donald Trump's trade war on steel and aluminium sales.
Economic consequences for boating in Europe and the United States
In support of his request, the associations point out the effects of the introduction of this tax on the boating industry on both sides of the Atlantic. According to their studies, boat exports from the United States to Europe have dropped by 30%, costing American boat builders more than $400 million since the tariffs came into effect. The price increase has also affected European importers, dealers and service providers reselling products from the US.
