The U.S. Department of Commerce last night announced that it reached an agreement with the United Kingdom that not only eases tariffs on U.S.-made steel and aluminum, but also ends the retaliatory tariffs on American-made boats.
The National Marine Manufacturers Association said in a statement that the 25 percent tariffs levied in 2018 on more than $500 million worth of U.S. goods resulted in a 60 percent decrease in shipments of boats and engines.
The European Union’s retaliatory tariffs on American-made boats ended Jan. 1.
Details about the timeline and implementation of the U.K.-U.S. trade agreement are developing.
