In May 2021, the tense trade relations between the US and the EU eased and the European Commission issued an implementing regulation n°2021/866, suspending the implementation of additional ad valorem duties on imports of certain US products.
These duties had been put in place in 2018, by Regulation (EU) No. 2018/886, in response to the trade measures taken by the United States in 2018, and subjected goods of nearly 200 tariff headings, originating in the United States, to the payment of additional customs duties of 10% to 50%, on top of the duties and taxes payable on their importation.
→ See our previous article New EU regulation applicable on 1 June 2021 : a path to the end of the commercial war between US and EU ?
In this context, the United States announced on 31 October 2021 the modification of its safeguard measures and, in reaction to these announcements, the European Union adopted Regulation (EU) No 2021/2083 of 26 November 2021, introducing the following measures :
- From 1 January 2022, the suspension of ad valorem additional duties of 10% and 25% on imports of products listed in Annex I of Regulation (EU) 2018/886
- The extension of the safeguard measures already decided on 28 May 2021 on imports of products listed in Annex II of Regulation (EU) 2018/886, until 31 December 2023.
All additional duties are thus suspended until 31 December 2023, subject to further suspensions, modifications or early reinstatements, should the dispute between the two parties resume.
As a result, a vessel built in the US can be imported into the EU from 1 January 2022 without having to pay the 25% additional import duty. Before that date, the duty would apply.
We recommend that you check the situation of the vessel prior to import and anticipate any reintroduction of duties in order to benefit from the customs mechanisms for suspension or exemption of these duties.
Our customs team is available to assist you in determining the potential impact on your business.