On Tuesday, NMMA, the European Boating Industry (EBI), and the International Council of Marine Industry Association (ICOMIA) sent a joint letter to President Trump expressing their deep concern for the escalating trade dispute and the direct impact to the recreational boating industry in the European Union and the U.S. NMMA, EBI, and ICOMIA are urging all parties to quickly resolve the conflict and eliminate the use of tariffs against one another.
The letter stated, “The imposition of the U.S. Administration’s worldwide steel and aluminum tariffs has resulted in the marine industry being confronted with rising costs of raw materials and retaliation between key trading partners. The marine manufacturing industry relies on free and fair trade. Nobody wins in a trade war– more specifically, the recreational boating industry shoulders the negative consequences as demand for our products is highly elastic and sensitive to even small changes in the sales price of boats.”
The letter continued, “The ongoing trade dispute has effectively frozen the export market in these previously mentioned countries and is leading to marine dealers in the EU and Canada to cancel orders of U.S. built boats which also has dramatic adverse effects on boat dealers and service businesses in the EU. Without a solution that immediately withdraws these tariffs or exempts key allies, the global marine industry – and the global economy – will suffer.
“We believe it is imperative the U.S. and EU work quickly to resolve the deteriorating trade situation and eliminate the use of tariffs against one another. Together, we can achieve an enduring solution that benefits both sides of the Atlantic and allows the boating industry to continue its economic growth.”
The full letter is available here.
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 via a petition, which can be found here.