Following the trade dispute in 2018, which saw the US impose tariffs on EU steel and aluminium, a number of sectors were targeted with retaliatory tariffs on US imports, including recreational boats. Both tariffs were suspended at the end of 2021 for a period of two years. The aim was to find an agreement on the core steel and aluminium issue by October 2023 in order to then permanently remove both tariffs. In case of no agreement being reached, the tariffs would return from 1 January 2024. This would include an increase on the tariffs as they were in place until end-2021.

EBI is working with a large coalition of European associations to advocate against the tariffs on US imports returning at the end of the year. A meeting was held with this group and the European Commission in September to receive the latest update on the negotiations. The outlook is still optimistic from the EU side, even if the core steel/aluminium issue is still to be resolved. A summit between the EU and US has been confirmed for 20 October where an agreement may be announced.

To ensure high pressure for a full and permanent removal of the tariffs, EBI co-signed a letter of EU and US trade associations across sectors with a total of 85 signatories, including NMMA. An additional letter focusing on the boating sector together with NMMA and ICOMIA has also been sent to the EU and US negotiation teams.