End of moratorium on boat import taxes
The trade war between Donald Trump's United States and the European Union, first over metals and aluminum, then over aircraft, had led to retaliatory measures on both sides, imposing import taxes, notably on pleasure boats. As the Covid crisis wreaked havoc and the substantive resolution stalled, a moratorium on these taxes was finally agreed in 2021, without eliminating their existence. This moratorium is now due to expire, and the taxes - notably on pleasure boats, but also on various foodstuffs, spirits and other goods - will once again be applicable on January 1, 2024, unless the parties agree otherwise.
Concerned professionals
While they were counting on the Europe-US summit on October 20, 2023 to move the situation forward and resolve the economic dispute, professionals from the various sectors have been disappointed and are now voicing their concern in a tribune signed by 87 industry organizations, including the European Boating Industry and the National Marine Manufacturers Association for yachting on both sides of the Atlantic. They call on leaders on both continents to urgently find a solution to the economic conflict, which is critical to their industries. If a permanent withdrawal of taxes is not possible in time, before January 1, 2024, they call for the suspension to be extended over a long period to guarantee long-term visibility for the industries. The estimated value of the taxes, based on trade in 2022, is 1.3 billion euros.
