Counting the Cost

As the saying goes: “The only things certain in life are death and taxes.” For the modern equestrian, one of these is far more problematic than the other—and yes, you’d be correct in guessing taxes.

For decades, the American horse market has relied heavily on our neighbors across the pond. For those competing at the top levels of the sport in the U.S., it’s not uncommon for virtually every horse to have been born in Europe and later imported under U.S. ownership.

Anyone following U.S. politics likely knows where this is going. As of July 12, 2024, the import tax for horses coming from Europe to the U.S. has been raised to 30%. That means that upon arrival at a U.S. airport, buyers must now pay an additional 30% to the U.S. government on top of the horse’s purchase price.

While this isn’t intended to be a deep dive into U.S. trade policy, it’s important to consider the significant implications this change will have for the equestrian industries on both sides of the Atlantic.

The Vanishing Mid-Market

First and perhaps most obviously, an entire price point of horses that were once economically viable will be wiped out. For years, it’s been a widely held belief that you could get more quality for your money purchasing a horse in Europe rather than the U.S.

While prices in Europe have steadily risen, the overall cost of raising horses—from feed to labor to land—is still significantly lower than in the States. This disparity has allowed European breeders to offer better-quality horses at a lower price point.

However, the majority of transactions between European sellers and U.S. buyers fall under the €100,000 mark. With the earlier 10% tariffs already causing a visible slowdown in U.S. buying activity, this new 30% rate will almost certainly eliminate this entire segment of transatlantic business.

A Breeding Boom in the U.S.? Not So Fast.

You might be wondering: Could this be the push American breeders need to step up?

While that’s an optimistic angle, the reality is far more complex. Raising young horses in the U.S. is exponentially more expensive than in Europe. By the time a horse is old enough to enter the ring, its owner is already deep into sunken costs. And as anyone involved in breeding will tell you, producing top sport horses is a numbers game: most foals won’t reach elite competition levels. The higher the cost of raising the “misses,” the fewer breeders are willing to stay in the game long enough to produce a “hit.”

Additionally, the majority of high-level U.S. sport horses (particularly in show jumping and hunters) are Warmbloods. Over the past decade, there has been growing research into whether traditional U.S. breeding practices—developed around Thoroughbreds and racing—are truly suited to Warmbloods. Concerns center around differences in pasture management, grass type, and turnout, as these breeds have distinct nutritional and developmental needs.

Time Isn’t on Our Side

Even if the U.S. could successfully ramp up domestic sport horse breeding, that kind of transformation doesn’t happen overnight. Establishing a pipeline of quality sport horses would take decades—time the industry simply doesn't have.

In the interim, fewer affordable imports will shrink the talent pool, make competition more exclusive, and threaten the viability of U.S. barns and training programs that rely on a steady flow of imported prospects.

The European Lifeline

Just how reliant is the U.S. on the European market? At the time of writing, not a single horse competing for the U.S. in show jumping at the Paris 2024 Olympics was American-bred. And among all the horses in Olympic show jumping competition, only one—Australian Hilary Scott’s Milky Way—was bred outside of Europe.

This fact alone underscores how deeply intertwined the American competitive scene is with European breeding. Disrupting that connection could be catastrophic for the sport in the U.S.

The Bigger Picture

It is overwhelmingly clear to those within the industry that this tariff policy could cause irreparable damage. U.S. equestrian sport already struggles with accessibility and inclusivity, often criticized for being a domain of the wealthy. Further increasing the cost of participation will push the sport even further out of reach for all but the ultra-rich.

While the long-term goals of trade policy are always up for debate, one thing is certain: if left unaddressed, this 30% tariff will reshape the American equestrian landscape—not through innovation, but through exclusion.