There have been several changes on the Section 301 tariffs front since August 1. While the National Marine Manufacturers Association continues to caution against further escalating the trade conflict, some recent actions are encouraging.
On Tuesday, the Trump administration announced their final list of $16 billion in Chinese products that will face a 25 percent tariff starting August 23.
The list contains a range of marine related products. However, floating docks were among the items excluded, drawing applause from the industry.
Last Friday, China announced new tariffs on approximately $60 billion worth of U.S. exports. The move was a result of the Trump Administration’s proposed increase of Section 301 tariff from 10 to 25 percent on $200 billion in Chinese goods.
For the first time boats were included on China’s retaliation list – with tariffs ranging from 10 to 25 percent – which brings the total number of countries that have retaliated against U.S. boats to four.
“China’s tariffs are unfortunate but given the trade war’s rapid escalation in recent months they certainly don’t come as a surprise,” said NMMA’s Senior Vice President of Government Relations and Legal Affairs Nicole Vasilaros. “This is exactly why we oppose the trade war – they only result in tit-for-tat tariffs, with each side consistently trying to outdo the other.
NMMA applauds President Donald Trump for his commitment to cracking down on China’s unfair trade practices and theft of American intellectual property, but the current approach misses the mark, Vasilaros said.
“We urge the President to use the recent agreement with the European Union as a model and work with our allies to negotiate trade agreements that work for all of us,” she added.
Because of the potential tariff increase, the administration has extended the deadline for submitting comments and requests to testify, and NMMA is encouraging all affected members to weigh in.
The written comment period closes Sept. 5, and the due date for requests to appear at the public hearing is Aug. 13. NMMA can assist interested parties with all aspects of the submission process.
NMMA is continuing to engage on this issue and provide updates as well as background as the situation evolves.