Recreational marine industry hit by new Trump tariff
President Donald Trump recently used his authority under Section 301 of the Trade Act of 1974 to push back against a determination of unfair trade practices by China and their continued infringement on intellectual property with a new 25 percent tariff (also known as the “301” tariff) on a list of more than 1,300 products imported to the U.S. from China.
The recreational marine products on this list include:
Aluminum and steel wires, bars, rods
Propellers
Hydro jet engines and parts
Marine engines
Fuel injection pumps for marine engines
Machinery used for bending metal and welding
Antenna receivers
Display monitors used for fish finders and GPS
Navigational instruments and parts
NMMA has joined a coalition of industries spanning dozens of industries from manufacturing to retailers, which has already sent a letter to Congress calling for action. NMMA is working directly with Congressional allies to raise industry’s concerns.
It’s critical that members impacted by this tariff do two things:
1) Submit comments by May 11th (pre hearing) and May 22 (post);
2) Contact NMMA’s Vice President of Federal and Legal Affairs Nicole Vasilaros to share your story and how your business has been impacted. Nicole can be reached at nvasilaros@nmma.org
No tariff has yet to be implemented. It is a negotiation tactic at this point. China just announced they ARE lowering tariffs on automotive imports from the U.S ( Gm, Ford, Chrysler ) and are doing away with the requirement that a U.S. company has to first partner with an existing Chinese company before they can do business in China. This was done as a show of “good faith” and is a result of the threat of the proposed tariffs.