LONDON (BRAIN) — Besides the 25% tariff the European Union imposed on U.S. bike frame imports last month, which BRAIN wrote about last week, stationary bike trainers also got hit with the duty.
That's bad news for companies that ship trainers from the U.S. to Europe, like Saris.
There is some good related news, however: The U.K. announced Tuesday it will stop collecting the duties on frames, trainers and other U.S. products when it exits the union on Jan. 1. The UK government said it is now taking "an independent approach to the longstanding trade conflicts between the EU and US" as Brexit approaches.
The bike frame and stationary trainer tariffs imposed by the EU were part of a $4 billion package of US goods slapped with the new tariff, stemming from a dispute over commercial aircraft manufacturing subsidies.
But the UK said it would suspend the tariffs "in an effort to bring the US towards a reasonable settlement and show that the UK is serious about reaching a negotiated outcome." The government added that it reserves the right to impose tariffs "if satisfactory progress towards an agreeable settlement is not made."
As part of its new independent approach, the UK said it is enacting new tariffs on steel and aluminum imports from the US in retaliation for tariffs the Trump administration imposed on those metals coming from the EU.
Bike trainers are getting the new tariff in the EU because they are included under the Common European Tariff code 95069110, for "Exercising apparatus with adjustable resistance mechanisms." That code was included in the new round of tariffs the EU imposed in November.
Saris did not respond to multiple requests for comment.
