The US Government yesterday announced ‘reciprocal tariffs’ on the import of EU products at the level of 20%.
European Boating Industry (EBI) strongly opposes tariffs and underlines the potential risks to businesses on both sides of the Atlantic and the entire value chain. The boating industry is globally integrated and North America and Europe are the largest markets. Tariffs disrupt businesses, hinder economic growth, and jeopardise jobs, particularly for small and medium-sized enterprises (SMEs) that form the backbone of the boating industry.
We welcome the EU’s objective to reach a negotiated solution with the US and EBI stands ready to contribute with proposals to enhance the recreational boating industry’s mutual success. The permanent removal of tariffs would support economic growth, jobs and investment on both sides of the Atlantic.
EBI is in constant dialogue with the EU institutions. The recreational boating industry, uniquely ‘Made In Europe’, consists of over 32,000 businesses and directly employs more than 280,000 people. Over 96% of businesses in the sector are SMEs.
