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US and EU announce boat tariff agreement

May 18th, 2021 / By: / Industry News

The United States and European Union announced an agreement to suspend the looming tariff increase on U.S. boats and engines making their way to the E.U., just days before the scheduled June 1 deadline, according to the National Marine Manufacturers Association website.

The negotiating parties have stated that leadership from both sides of the Atlantic are committed to reaching an agreement that will permanently reverse the still applicable 25 percent retaliatory tariff on U.S. boats entering Europe.