Call for permanent removal of tariffs

The European Boating Industry (EBI) and the National Marine Manufacturers Association (NMMA) are calling for the complete abolishment of tariffs.

With less than a month before the reimposition of tariffs in the US-EU steel and aluminium dispute, the organisations have joined with a wide range of other European and American associations to urge US and EU leaders to reach an agreement to permanently remove all retaliatory tariffs on products unrelated to the large aircraft disputes and not reimpose them on 1 January 2024 as is currently scheduled.

The associations say it’s an opportunity to foster a robust transatlantic trading relationship which is vital to the prosperity of the industry.

Unbearable uncertainty

They state: “The prospect of the return and increase of retaliatory tariffs in the steel and aluminium dispute, barely a month away, is causing unbearable uncertainty and instability for unrelated sectors.”

And they say that the agreements to suspend the tariffs in 2021 provided important relief, supported economic recovery and removed barriers to trade.

However, the statement continues: “We now face the prospect of the reimposition of duties on our products, ingredients, and raw materials in the steel and aluminium dispute to the amount of more than €1.3 billion ($1.43 billion) as of 1 January 2024.”

The statement concludes: “If the permanent removal of tariffs on sectors unrelated to the disputes is not possible at this time, a further suspension of duties in the steel and aluminium dispute is necessary and should be announced without delay.

“The suspension should be long enough to provide affected sectors with long-term predictability.”