The US Government and President Donald Trump announced a comprehensive tariff regime, dubbed “Liberation Day” on 2 April 2025 (yesterday), which includes a 20 percent reciprocal tariff on exports to the US from the European Union (EU).
The new policy introduces a baseline 10 percent tariff on nearly all imports, with higher reciprocal tariffs imposed on countries deemed to maintain significant trade barriers against US products, such are those in the EU.
US Tariffs on Europe: What could this mean for the yachting industry?