NMMA provides industry update on trade, tariffs
The National Marine Manufacturers Association hosted a webinar last Wednesday to discuss the rapidly evolving trade situation.
While some developments have been positive, the recreational boating industry is still facing significant pressure, and NMMA is calling on all stakeholders to take action.
Last week, NMMA celebrated legislation introduced by Representative Seth Mouton (D-MA-6) that would help marine manufacturers targeted by retaliatory tariffs.
“The recreational boating industry is extremely grateful to Rep. Seth Moulton for introducing legislation that would provide marine manufacturers much needed relief from damaging retaliatory tariffs on U.S. boat exports,” said NMMA’s Senior Vice President of Government Relation and Legal Affairs Nicole Vasilaros. “The trade war has hit our industry particularly hard and on multiple fronts. This bill would help counter one our largest concerns: punitive tariffs on exports that have halted sales to our largest trading partners.”
Moulton has been a friend of the recreational boating industry since he took office, and his most recent action is another example of his commitment to defending the maritime community and its economic importance in his district and throughout the country, Vasilaros said.
Additionally, the U.S. and the European Union (EU) recently announced that they will seek a solution to their growing trade dispute.
The agreement is welcome news, but it lacks details and a specific timeline. In addition, it does not address the industry’s other trade concerns – including retaliation from Canada and Mexico and tariffs on raw materials and components.
NMMA is encouraging the Trump Administration to seize this opportunity by immediately dropping Section 232 tariffs on the EU and starting new trade negotiations with our other top trading partners.
According to NMMA, a fresh start to these conversations, without the threat of punitive tariffs, is the best way to deliver for American businesses, workers, and consumers.
NMMA is preparing to testify before the United States Trade Representative next month regarding the most recent list of tariffs targeting Chinese products. Earlier this month, the administration announced an expanded list of Section 301 tariffs of 10 percent on $200 billion in Chinese goods – which includes boat, marine parts, and trailer tires.
During a U.S. Senate hearing last week, Sen. Bill Nelson (D-FL) raised the effects of tariffs on the industry. Sen. Nelson specifically mentioned his recent visit with Correct Craft in his remarks.
Facility visits are critically important opportunities for highlighting the recreational boating industry and powerful advocacy tools. NMMA encourages other members to work with them on scheduling factory visits with their respective elected officials.
For more information, please contact NMMA Senior Vice President of Government and Legal Affairs Nicole Vasilaros or NMMA Director of Federal Affairs Lance West.
