On Monday, President Trump announced that the U.S. and Mexico reached an agreement to revise the North American Free Trade Agreement (NAFTA). Free trade between the U.S., Mexico, and Canada is a top priority for the recreational boating industry, and NMMA is encouraged by this development.
In response to the breakthrough, NMMA’s President, Thom Dammrich, stated, “President Trump’s announcement on a tangible NAFTA agreement with Mexico is welcome news and an important step toward modernizing and preserving the trade pact. Maintaining the trilateral agreement is critical for the continued health and success of American manufacturing, including the recreational boating industry. To that end, we urge the administration to capitalize on this momentum and immediately bring Canada – our industry’s largest export market – back into the fold, finalize the deal, and send it to Congress for approval.
Dammrich continued, “Additionally, President Trump should leverage the goodwill created by this progress and work with both countries to resolve other trade disputes, especially retaliatory tariffs.
“As the administration continues to move the ball forward on NAFTA, they should also focus on forging lasting trade deals with the European Union and China. President Trump should be commended for his commitment to ensuring American businesses and workers receive a fair shake in these jurisdictions, and it is now time to turn words into concrete actions. A good starting place would be to remove all retaliatory tariffs and tariffs that run counter to the objective of punishing parties responsible for unfair trade practices.
“While we are pleased that NAFTA negotiations are headed in a positive direction, it is premature to celebrate. We urge the administration to swiftly and simultaneously finalize the trilateral NAFTA revamp and address other outstanding issues with key trading partners.”