Steel and Aluminum tariff certification clarified - MarineBusinessWorld North America newsletter
by Peter Rendle 26 Mar 20:00 GMT
EU delays tariffs on U.S. Boats © National Marine Manufacturers Association
Last week, the U.S. Department of Commerce issued the required certification indicating that the appropriate systems are in place to account for steel and aluminum in derivative products.
As a result, the 25% Sec. 232 tariffs have now expanded to cover certain downstream products of both aluminum and steel. A few important notes: The revised Harmonized Tariff System codes published last week indicate only that importers will have to report the steel and aluminum content of derivative products in kilograms, but we are still waiting for additional details. There is no "on the water" exclusion or further transition period for the derivative products - the steel and aluminum proclamations state that the 25% duty will be imposed on "goods entered for consumption, or withdrawn from warehouse for consumption, on or after the Commerce certification date."
The EU has delayed tariffs on US boats, creating a key window for negotiations. While this delay is not a final solution, it is a welcome sign that both sides are taking time to negotiate. The European Commission has announced a two-week delay in implementing retaliatory tariffs on US-built boats and other American products, pushing the timeline from April 1 to mid-April. This pause aligns with the expected rollout of additional US reciprocal tariffs on April 2 and opens the door for further dialogue between the United States and the European Union.
The 2025 American Boating Congress (ABC) is set to return to the nation's capital, bringing together industry leaders, policymakers, and stakeholders to advocate for the future of recreational boating. With crucial discussions unfolding around tax, trade, infrastructure, and regulations, now more than ever the voices of boating professionals must be heard on Capitol Hill. The decisions made in Washington directly impact the recreational boating industry. From manufacturing policies to waterway access, industry professionals have the opportunity to shape the policies that impact their businesses and customers. By attending ABC, participants gain direct access to lawmakers, engage in meaningful discussions, and influence policy outcomes that drive the industry forward.
Meanwhile, Denison Yachting announced new exclusive partnerships at the 2025 Palm Beach International Boat Show. The company will serve as the exclusive representative for Ocean King in North, Central, and South America, as well as for Filippetti Yachts in North America. In addition to that, Denison Yachting and Northern Jet announced a strategic alliance, delivering a seamless, first-class experience from private jets and helicopters to world-class yachts.
J Craft partners with Hinckley Yacht Services. Debuting at the Palm Beach International Boat Show, the partnership brings a concierge approach to J Craft owners in the US. J Craft believes every boat it has built should be as effortless and enjoyable to service as it is to own, so the company's list of service providers around the world is extremely exclusive. And since few American yacht brands have the reputation for quality, craftsmanship and service that Hinckley Yachts does, it was clearly easy for the Swedes to choose Hinckley Yacht Services to be the exclusive service provider in the United States.
From France, Groupe Beneteau have released their 2024 full year results. "Groupe Beneteau's teams once again showed their outstanding ability to adapt, faced with the significant changes on the boat markets in 2024. The efforts made by all our employees enabled the Group to achieve over one billion euros of sales for the year, as well as the upper range of its full-year profitability forecast. The sale of the Housing business will enable the Group to accelerate its development on the boat markets, while ensuring a fair return for shareholders," confirms Bruno Thivoyon, Chief Executive Officer.
Peter Rendle - peter.rendle@worldmarine.media