The European marine industry is calling for more predictable trading conditions after the EU and US agreed a tariff deal, as Marine Industry News reports.
The deal announced on Sunday (27 July) will see a baseline tariff of 15 per cent placed on European imports to the US, with exemptions for key industries, while in return the EU will suspend its planned 30-per-cent retaliatory tariff on US goods.
While finer details of the tariff deal are expected to emerge this week, four international marine industry bodies have issued a joint statement urging for recreational boatbuilding to be considered a “keystone industry”.
British Marine, the International Council of Marine Industry Associations (ICOMIA), European Boating Industry (EBI) and the National Marine Manufacturers Association (NMMA) also call for the preservation of smooth supply chains as well as greater certainty regarding tariffs, which pose an outsized burden on the small-to-medium enterprises that comprise the majority of the sector.
In a follow-up statement, the EBI expressed concern that the tariff deal will lead to a trade imbalance between the EU and US, a situation that “presents serious challenges for…export-reliant industries such as ours”.
Marine Industry News has more on the story HERE.
