Hieronder geven ze graag 2 updates over de laatste ontwikkelingen.
- EU-US joint statement
- The EU-US joint statement on trade was published today. It implements the political agreement between President Trump and President von der Leyen from end-July. It can be found here together with a Q&A by the EU Commission. The key aspects of the agreement relevant for our sector are confirmed as expected and are summarised below:
- The EU will eliminate tariffs on imports of all US industrial goods.
- The US will apply a tariff rate of 15% as expected on products originating from the EU. This will be the maximum rate comprising all previously applicable tariffs. This means that for boats, engines and components the 15% tariff applies. Only where the previously applicable US Most Favoured Nation (MFN) tariff is equal to or higher than 15%, will the higher MFN rate continue to apply.
- Some EU products are exempt from the 15% US tariff rate, such as generic pharmaceuticals and aircraft, and there is a commitment by the US and EU to consider other sectors and products that are important for both economies and value chains to be included in the list of products for which only the previously applicable MFN tariff would apply.
- Further cooperation on non-tariff barriers is planned, including technical cooperation on standards development in key sectors of mutual interest, as well as facilitating conformity assessments to cover additional industrial sectors. There is no insight yet whether this will also cover legislation or standards related to the recreational boating sector.
- Further work is expected by the EU Commission to support US businesses with certain EU legislation, such as the Carbon Border Adjustment Mechanism (CBAM), Corporate Sustainability Due Diligence Directive (CSDDD) and Corporate Sustainability Reporting Directive (CSRD) but without changing the legislation as such.
- The Joint Statement is a political agreement and not legally binding. Both sides will now legally implement the key commitments contained in the Joint Statement. On the EU side, it will be taken forward in consultation with Member States and the European Parliament.
- EBI remains in close contact with the EU institutions. Our aim is to explore how product categories are identified that may then be exempt from the 15% tariff rate and analyse whether recreational boats and related products could be considered.
- Expansion of the US’ tariffs on aluminium and steel imports
A second update is the expansion of the US’ tariffs on aluminium and steel imports that could be relevant for some exporters of products with aluminium and steel derivative products to the US:
- The US Department of Commerce expanded its Section 232 tariffs on aluminium and steel imports, adding more product codes to the existing list of tariffs on aluminium and steel derivative products. Since Monday 18 August, the metal content of the products is now subject to the 50% tariff.
- The full list of additional products can be found here. Several products related to recreational boats could now be subject to these new tariff rates and EBI encourages members to inform companies and recommend identifying whether there are relevant products covered. A first analysis by EBI shows that there are a number of potentially relevant products on the list, including engines, pumps, trailers and parts of other components. Further product codes may be added in future by the US Department for Commerce.
- For now, this still applies to imports from the EU as the negotiations between the EU and US on steel and aluminium tariffs have not yet been concluded as part of the joint statement.
Please do not hesitate to let us know if you have any further questions.
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Philip Easthill Secretary-General Square de Meeûs 35 │ B-1000 Brussels │ +32 473 637334 europeanboatingindustry.eu │ Twitter │ LinkedIn Transparency Register #74989093163-18 |
