Tag Archives: Trade Tariffs

Senate passes legislation to reopen tariff exclusion process

Capitol Hill

On Wednesday, the U.S. Senate passed comprehensive legislation that establishes a new exclusion process for products impacted by the Section 301 tariffs on imports from China and reinstates exclusions for products that previously received an exclusion. Reinstating previous exclusions and establishing new opportunities for manufacturers to make the case for why their products should be excluded from the Section 301 ...

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U.S. and E.U. agree to halt tariff increase on American boats entering Europe

U.S. recreational boat exports sharply down

The United States and European Union announced an agreement to suspend the looming tariff increase on U.S. boats and engines making their way to the E.U., just days before the scheduled June 1 deadline. The negotiating parties have stated leadership from both sides of the Atlantic are committed to reaching an agreement that will permanently reverse the still applicable 25% ...

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NMMA calls for action to avoid EU tariff increase

Ahead of a hearing in the U.S. House of Representatives regarding the Biden administration’s trade agenda, NMMA urged the White House, United States Trade Representative Ambassador Katherine Tai, and Commerce Secretary Gina Raimondo to strike an agreement with the European Union that prevents the trade bloc’s 25% tariff on U.S. boats and engines from doubling to 50% on June 1, ...

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International boating industry urges President-Elect to resolve trade issues

boating trade tariffs

NMMA, the European Boating Industry (EBI), and the International Council of Marine Industry Associations (ICOMIA) sent a letter to President-Elect Joe Biden congratulating him on his election victory and calling on him to swiftly address trade relations between Europe and the U.S. Following the Trump administration’s Section 232 tariffs on aluminum and steel imports, the E.U. responded by levying a 25% retaliatory ...

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International boating community urges trade officials to remove tariffs

boating tariffs

NMMA, the International Council of Marine Industry Associations (ICOMIA), and the European Boating Industry (EBI) sent a letter to the United States (U.S.) and European Union (EU) trade officials applauding their recent progress on trade negotiations and urging them to reach an agreement that removes the EU’s 25% tariff on U.S. manufactured boats. “Since 2018, the United States’ worldwide steel and aluminum ...

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NMMA announces an easier path to boat sales in Canada

NMMA announced it is entering a Memorandum of Understanding (MOU) with Transport Canada to ease the entry of NMMA Certified boats and yachts for sale into the Canadian marketplace. NMMA certified boat manufacturers will soon be able to provide an NMMA certificate for their certified model alongside an abbreviated Declaration of Conformity (DoC), in lieu of the more comprehensive DoC ...

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US and China reach initial deal on tariffs

Last week, the Trump administration and China reached a partial deal – known as the Phase One Trade Agreement – to deescalate the ongoing trade war. While some details of the agreement have yet to be released – including the timeline for implementation. The NMMA said it welcomed the news and urged both parties to keep negotiating until all tariffs are removed. ...

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Trump Administration announces Section 301 List 4A exclusion process

The Office of the U.S. Trade Representative (USTR) recently announced that on Thursday, Oct. 31, 2019 it will begin accepting tariff exclusion requests for Chinese products subject to an additional 15% tariff (Section 301 List 4A) that went into effect on Sep. 1, 2019. Exclusion requests will be received via USTR’s online exclusion request processing portal at exclusions.ustr.gov – details regarding the ...

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Inflatable boats and kayak paddles awarded tariff exemptions

Inflatable boats and kayak paddles were among the 10 types of products that the Trump administration granted tariff exclusions for on Tuesday. Leading up to the decision, NMMA advocated for exempting the products from tariffs targeting $200 billion in Chinese imports – Section 301 List 3 – including working with stakeholders to apply for exclusions, filing comments in favor of the ...

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Q&A with Bruce Van Wagoner of Wells Fargo

By David Gee Bruce Van Wagoner is President of the marine group for Wells Fargo CDF, and I recently had the chance to speak with him about the state of the recreational boating industry from his perspective. David: About half of the dealers we surveyed for the Boating Industry Market Data Book experienced an increase in revenue and profits YoY ...

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