A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
American boat buyers and European shipyards are scrambling to assess the damage from the proposed U.S. 15% tariffs on European-made goods.
With many of the world’s recreational boats and yachts made in Europe, and most of the biggest buyers in the U.S., industry experts are bracing for the fallout from President Donald Trump’s Monday tariff announcement.
The European Boating Industry issued a statement this week saying, “The U.S. is the most important export market for the recreational boating industry in Europe. The 15% tariff rate presents serious challenges for businesses in Europe.”
Granted, most Americans can who buy a $10 million or $100 million yacht can likely afford another 15% tax. Yet brokers said the cost equation for many buyers will change with the tariffs.
