The European Commission has formally approved 25 percent tariffs on a range of American products, including boats, in response to the Trump Administration’s Section 232 tariffs on all aluminum and steel imports. After today (Thursday, June 21), a 25 percent tariff will be applied to every boat destined for the EU.
The global trade war has intensified in the past few weeks and the recreational boating industry is being targeted on multiple fronts.
To help the industry keep pace with this rapidly evolving situation, the National Marine Manufacturers Association has released a frequent asked questions factsheet outlining and addressing tariff issues.
In addition, NMMA recently issued a Boating United alert, calling on all industry stakeholders to take action and tell President Trump to withdraw tariffs targeting boats.
The U.S. recreational boating industry is facing a triple threat from Section 232 tariffs on steel and aluminum, anti-dumping and countervailing duties on Chinese aluminum sheet, and Section 301 tariffs on nearly 300 marine related products.
Collectively, these tariffs are causing the price of raw materials and marine parts to rise rapidly and stifling U.S. boat exports.
The industry is uniquely affected by these tariffs and is the only recreational industry facing retaliatory tariffs from Canada, the European Union, and Mexico.
As a result, the price of domestically sold boats is rising rapidly and U.S. boats are becoming unmarketable in other countries.
NMMA is continuing to be loud on this issue and is addressing the industry's concerns head on. But NMMA also needs your help. Please sign the petition and tell President Donald Trump why these tariffs are bad for recreational boating.
For more information, please contact NMMA Senior Vice President of Government and Legal Affairs Nicole Vasilaros or NMMA Director of Federal Affairs Lance West.
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The tariff situation will effectively cause Hurst Marina to cease buying boats from our U.S. suppliers. This will cause a $20 million decrease in sales for Regal, Carver, and Malibu. This will, of course, affect employment in these companies. The marine industry in Canada can exist without U.S. suppliers. The Europeans and the existing boats that exist will suffice for Canadian needs.
In the long run things will get better soon, Trump has to do this to even out trade.