Understanding the European Union's Retaliatory Tariffs
by National Marine Manufacturers Association 19 Mar 22:18 GMT
European Union © EU
The European Union (EU) announced it would allow the suspended 2018 retaliatory tariffs – which includes recreational boats – to lapse on March 31.
The announcement comes in response to the Trump administration's reinstated Section 232 tariffs on steel and aluminum imports that went into effect last week.
In the EU’s press release, it noted that Europe would “restore” the 2018 retaliatory tariffs against the U.S. and take immediate effect on April 1. While the list of products subject to the additional tariffs – which ranges from 25% to 50% for recreational boats – can be found here, the Harmonized Tariff Codes from 2018 have since been updated in 2022.
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