Late last week, President Trump announced that trade talks between the U.S. and China had broken down and that, beginning Sep. 1, 2019, the U.S. will impose a 10% tariff on the remaining $300 billion of goods not already subject to previous Section 301 trade actions.
The NMMA said it has long cautioned against levying additional tariffs on China, which will directly impact many marine industry products including life jackets, fishing rods, and water sports equipment.
In response, NMMA senior vice president of government and legal affairs, Nicole Vasilaros stated, “The trade war between the U.S. and China has already done enough damage to small businesses and workers across the country and the administration’s new tariffs on $300 billion of Chinese products sets back any progress and ensures this dangerous tit-for-tat trade policy will continue. While we agree that China must be held accountable for its unfair trade practices, the fact remains that tariffs are taxes that are paid by American workers, businesses, and households. We urge President Trump and trade officials to get back to the negotiating table and stop the spontaneous use of tariffs.”