9 April 2025 – Update from EBI

Please find the latest press release from EBI here plus an overview of EU trade countermeasures here.

8 April 2025 – Updates from SABBEX

South African MIA SABBEX have provided some updates after it was announced that reciprocal tariffs of 30% would be imposed.

Below is a summary from the SA government

Retaliatory tariffs against US would be ‘counterproductive’, South Africa’s Tau says

And here is a press release from our Western Cape Investment and Promotion Agency

Wesgro committed to supporting Western Cape exporters navigate United States tariffs – Corporate | Wesgro

3 April 2025 – ICOMIA statement on reciprocal tariffs

Yesterday, the United States formally announced a reciprocal tariff structure with international implications for worldwide trade and the recreational boating industry.

A minimum baseline 10% tariff will apply to all exporters to the United States beginning on 5 April 2025.

Additional reciprocal tariffs were also announced for 60 countries – including 20% for the European Union (EU), and 10% for the UK. These will take effect on 9 April 2025.

The reciprocal tariffs are generally in addition to previously established tariff announcements, although some sector specific tariffs may take precedence. We are seeking clarity on these points.

For a full list of reciprocal tariffs please see the chart attached.

ICOMIA represents the recreational boating industry globally and have been in contact with members everywhere. Recent interactions with our members everywhere and in Asia in particular, have only served to remind us how interconnected our supply chain is and to highlight the uncertainty and risk created by these moves.

The EU has announced its intention to apply countermeasures, which may include 25-50% tariffs on American-made boats, that will go into effect on 15 April 2025. We will share updates once it is confirmed. and it is our understanding that the UK is also considering countermeasures, although these have yet to be announced as the UK government endeavours to continue negotiations. It is expected that many more countries to announce additional retaliatory measures.

We aim to keep our members informed through regular communication and via this page, please see below statements from NMMA and EBI.

We also invite our members from around the world to share their updates and reactions, so that we can continue to build and share a truly global perspective.

3 April 2025 – NMMA statement on reciprocal tariffs

President Trump has formally announced his administration’s reciprocal tariff structure, aimed at levelling the playing field with U.S. trading partners that maintain trade deficits on American-made goods. A minimum baseline 10% tariff will apply to all exporters to the U.S. beginning at 12:01 AM EST on April 6.

This 10% tariff will not apply to products from Canada and Mexico, which already have faced 25% tariffs for non-USMCA compliant goods. Additional “reciprocal” tariffs were also announced for 60 countries – including 34% for China, 24% for Japan, 20% for the European Union (EU), and 46% for Vietnam – and will take effect at 12:01 AM EST on April 9.

The reciprocal tariffs are in addition to previously established tariff announcements (Ex: China’s 34% is in addition to the 20% existing tariffs announced last month.)

President Trump spoke about the reciprocal countries in the charts here.

Impact on Recreational Boating
The implications for our industry, American manufacturers, and importers at large are significant. A recent NMMA survey found that 71% of NMMA member companies expect the tariffs on imports from China, Canada, and Mexico to negatively impact their business, with an average projected cost of $233,500 per company annually.

As a result, we know many of our members are facing difficult decisions, such as raising prices, delaying planned investments, or reducing production. These impacts will likely be amplified by the new tariffs announced today. 

The EU has announced its countermeasures, which include 25-50% tariffs on American-made boats, that will go into effect on April 15. This announcement follows weeks of delays to continue negotiations, and we expect more countries to announce additional retaliatory measures.

NMMA’s Advocacy
We continue to reinforce with policymakers at all levels that recreational boating is a uniquely American industry—95% of boats sold in the U.S. are made here, supporting 812,000 jobs and more than 36,000 businesses, most of them small and family-owned.

NMMA is working tirelessly to educate policymakers about our industry’s impact to the U.S. economy and to advocate for policies that protect our industry’s ability to continue representing excellence in American manufacturing while protecting market share abroad.

We are urging the administration and members of Congress to implement targeted and nuanced trade policies that secure our supply chains and avoid the impacts of retaliatory tariffs on our industry.

NMMA is actively working to:

• Engage directly with the administration and Congress to advocate for our industry’s unique needs, including meeting with the office of the U.S. Trade Representative and key Congressional committee members.
• Submit formal comments and recommendations to U.S. trade agencies, including our recent comments on copper.
• Push for targeted exclusions or mitigations for marine products where feasible.
• Work closely with policymakers and our industry counterparts in Canada, Mexico, and the EU to discourage retaliatory measures against American-made boats.
• Leverage recent member survey data and economic impact studies to present a compelling case for the importance of protecting recreational marine manufacturing.
• Prepare a second industry-wide survey to assess business impacts in real time, helping us tailor our advocacy with up-to-date information.

3 April 2025 – Statement from EBI on reciprocal tariffs

Please find the official press statement from the European Boating Industry (EBI) here.

21 March 2025 – Latest import / export market data.

Many members are asking us to provide the latest market data, especially the import and export volumes and values within key markets. Please remember that the best source of data is the ICOMIA Market Statistics book – published in November 2024. You can purchase this document here.

20 March 2025 – Update from EBI on the imposition of tariffs – start date.

EU Commissioner for Trade Maroš Šefčovič has just announced that the EU’s retaliatory tariffs on US boats and other products will be suspended for an additional two-week period until mid-April (rather than 1 April). This then coincides with the implementation of new tariffs on additional US products that the EU is planning.

This is at least encouraging as we hope that this period will be used by the US and EU for negotiations. EBI will also use this period to continue to make the case for a review of the 2018 tariff list.

We have ramped up our advocacy in the last days by sending letters to Commissioner for Trade Maroš Šefčovič and other related Commissioners, reaching out to our allies and key political groups in the EU Parliament, Commission President Ursula von der Leyen, as well as outreach to national governments by EBI members. We are also closely coordinating with NMMA.

While not a solution to the issue, it is encouraging as we expect that this period will be used by the US and EU for negotiations.

Statement from ICOMIA on the announcement of EU/US and other tariff regimes

ICOMIA and all of our members strongly oppose the imposition of tariffs on recreational boats and their associated products.

These tariffs create significant risks to the growth potential of our industry, that is by its very nature internationally connected and global in nature. Their impact will be to hinder economic growth and jeopardise jobs, especially within SME’s that represent a large proportion of our industry. ICOMIA will support our members globally, especially NMMA in North America and EBI – European Boating Industry – on the removal of these punitive measures.

Summary of NMMA’s active lobbying within the White House

NMMA President and CEO Frank Hugelmeyer, along with SVP of Government Relations Robyn Boerstling, met with officials from the US Trade Representatives (USTR) office last week to discuss the impact of tariffs on manufacturing jobs, local economies, and the position of strength the recreational boating industry enjoys in North America. You can find full information here.

Statement from EBI

EBI issued the following press statement, highlighting their position and the activity that they were already undertaking on behalf of their members. You can read that statement here.

Statement from British Marine

British Marine shares the concerns about US tariffs on aluminium and steel and the unintended consequences these could have for the leisure marine industry.  This is not only in terms of potential price hikes to supply chains but also inadvertently drawing in the leisure marine industry through retaliatory measures that impact leisure marine trade, as was previously applied in recent years. 

It is why, on 12 March 2025,  British Marine’s Chief Executive, Lesley Robinson, wrote to the UK’s Minister for Trade Policy and Economic Security, commending the UK Government’s approach in having not retaliated against the aluminium and steel tariffs and urged the Government to remain focused on its efforts to secure a free trade agreement with the US.

British Marine is also continuing to work with officials in the Department for Business and Trade, and with its international partners, through ICOMIA, to press for a de-escalation of the trade tensions between the EU and US and together, with its partners, will continue to assess the implications of the latest tariffs on UK marine businesses to help guide its members.  For further information about British Marine’s work please contact publicaffairs@britishmarine.co.uk.