Marine industry reacts as EU and US reach tariff deal
Following the announcement of a new tariff deal between the US and the EU, four global leisure marine industry associations – British Marine, the International Council of Marine Industry Associations (ICOMIA), European Boating Industry (EBI) and the National Marine Manufacturers Association (NMMA) – have issued a joint statement calling for more predictable trading conditions across global markets.
President Trump and EU Commission President Ursula von der Leyen announced the deal Sunday (27 July 2025), establishing a 15 per cent baseline tariff on European imports while allowing for targeted exemptions in key industries. In return, the European Union agreed to suspend its previously announced 30 per cent retaliatory tariffs on American products, including recreational vessels.
In the joint statement issued on Monday (28 July 2025), the four associations describe recreational boatbuilding as a “keystone industry” and emphasise the importance of smooth and efficient supply chains. They warn that unpredictable tariff regimes present risks to economic growth and skilled employment, particularly for small and medium-sized businesses, which dominate the sector.
The associations call on governments to support a trade environment that fosters certainty and fairness, and to reduce barriers through coordinated policies on safety, access, standards and regulation. The statement highlights the sector’s broader contribution to tourism, sport, culture and local economic resilience, while reiterating the value of international cooperation in enabling long-term industry sustainability.
While some in Europe may be breathing a sigh of relief that tariffs are now set at 15 per cent, this marks a dramatic change from previous US tariffs that were generally between 1 and 2 per cent.
The new level of tariffs is sure to present cost challenges for many businesses and small to medium-sized enterprises (SMEs) across Europe. In 2023, exports of recreational boats from the EU to the US totalled around $1.8bn. The increase in tariff levels is expected to lead to additional costs amounting to tens of millions of dollars.
The EBI has also responded directly to the trade announcement made by Von der Leyen and Trump, in a fresh statement distributed today (29 July 2025).
In the statement, EBI expresses concern that the new tariffs could result in an unbalanced trade relationship between the EU and the US, potentially reducing EU industry competitiveness.
Philip Easthill, EBI secretary-general, says: “The US is the most important export market for the recreational boating industry in Europe. Stability and predictability is vital, but equally important is a trading environment that businesses can sustain. This deal is not sufficient. The 15 per cent tariff rate presents serious challenges for businesses in Europe. We call on the EU Commission to take the announcement as the basis for more sectoral negotiations and consider the needs of export-reliant industries such as ours.”
The National Marine Manufacturers Association (NMMA) in the United States has broadly welcomed the outcome of the tariff negotiations — particularly the fact that the EU has suspended a planned 30 per cent retaliatory tariff on US products, including recreational vessels and marine engines.
The NMMA says this decision provides “stability” for US manufacturers who export over $2.3bn in marine products annually, with the EU among their largest international markets.
Frank Hugelmeyer, NMMA president and CEO, says: “We applaud President Trump and the European Union for reaching an agreement that protects US recreational boats and engines from additional retaliatory tariffs. The United States is the world’s largest recreational boating market. Preserving access to global markets is essential to sustaining the $2.3bn in annual exports of US boats and marine engines. We appreciate today’s outcome, which represents a shared commitment to business certainty and a stable trading relationship.”
The EU-US tariff agreement follows several months of international trade discussions and comes shortly before the 1 August deadline by which the US had planned to implement broader reciprocal tariffs. The full details of the agreement have not yet been released.
Read all the latest news about trade tariffs and how they are affecting the marine sector globally
