June 25 2018
The rebalancing measures adopted by the European Commission to counterbalance the tariffs on steel and aluminium imposed by the US entered into force on 22 June.
The additional ad valorem duties on imports of the products listed in Annex I, apply from the date of entry into force of this Regulation and until the United States ceases to apply its safeguard measures to products from the Union.
European EBI and US ICOMIA have sent a joint letter to President of the European Commission, Jean-Claude Juncker.
EBI is working together with NMMA and ICOMIA, asking a de-escalation of the trade war to the US administration and to the European institutions.
President Jean-Claude Juncker
Rue de la Loi / Wetstraat 200
22 June 2018
We, the undersigned, write to express our deep concern for the escalating trade dispute between the United States and key allies and the direct impact to the recreational boating industry in the EU.
The imposition of President Trump’s worldwide steel and aluminium tariffs has resulted in all recreational vessels being listed on the EU re-balancing measures. While we understand the need to remain strong against U.S actions, we urge reasonableness and consideration of the harmful and inequitable impact tariffs and retaliatory action will have on boating businesses, workers and consumers in the EU.
The marine manufacturing industry relies on free and fair trade. Nobody wins in a trade war– more specifically, the recreational boating industry shoulders the negative consequences as demand for our products is highly elastic and sensitive to even small changes. We strongly urge the European Commission to work collaboratively with the U.S. Administration, to recognize the harmful effects of the current trade dispute, and focus on achieving a reasonable and balanced resolution which does not threaten growth, jobs and innovation.
The ongoing trade dispute has effectively frozen the export market and is leading to marine dealers in the EU to cancel orders of U.S. built boats, which also has dramatic adverse effects on boat dealers and service businesses in the EU. Without a solution that immediately withdraws these tariffs or exempts key allies, the global marine industry – and the global economy – will suffer.
We believe it is imperative the U.S. and EU work quickly to resolve the deteriorating trade situation and eliminate the use of tariffs against one another. Together, we can achieve an enduring solution that benefits both sides of the Atlantic and allows the boating industry to continue its economic growth.
President, European Boating Industry (EBI)
President, International Council of Marine Industry Associations (ICOMIA) - USA