We'll see. The USA's courts may very rule that it is torture.
We only used it on 3 suspects...All of which will soon be on trial for the 9/11 attacks.
If they escape justice because the court feels they were unjustly tortured, then I guess we will know whether or not in the future waterboarding is considered torture.
Lets let the courts decide.
Thats why we pay judges the big bucks: To make decisions like this. So far, they have not spoken on this specific issue.