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European Brokers Hampered By New EU Tariffs On US Pleasure Craft

21st August 2018
Wakeboarding boats like the MasterCraft ProStar are among the many kinds of US-made vessels subject to the new tariff rise Wakeboarding boats like the MasterCraft ProStar are among the many kinds of US-made vessels subject to the new tariff rise

#Trade - European importers of pleasure craft from the US have already been impacted by new EU tariffs that add an average of €20,000 per boat.

According to Boating Business, dealers across Europe have been placing orders for new boats on hold since the tariffs came into effect in June as part of the response to the Trump administration’s steel and aluminium levies.

Yacht transport companies are also affected by the situation as the majority of their small boat business is from the US to European markets, says logistics specialists Peters & May.

The new rules apply to all pleasure craft in transit since 22 June, regardless of size, with only inflatable boats excepted.

And the increase from 17% to 25% on import costs is having what are perhaps unintended consequences for European brokers.

“The duty is intended to protect our industries, but we sell waterski and wakeboard boats which are not made over here,” says Jason Bates of Nautique Midlands in the UK.

Boating Business has more on the story HERE.

Published in Marine Trade
MacDara Conroy

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MacDara Conroy

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MacDara Conroy is a contributor covering all things on the water, from boating and wildlife to science and business

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