Tag Archives: Trade Tariffs

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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Exclusion process for List 3 Section 301 tariffs begin Sunday

On Monday, the U.S. Trade Representative (USTR) released instructions regarding the exclusion process for Chinese products on List 3 ($200 billion) of the Section 301 tariffs. USTR states that the web portal for submitting exclusion requests will open on Sunday, June 30, 2019, at 12:00 p.m. ET and close on Monday, Sep. 30, 2019. The Federal Register notice released by USTR provides detailed instructions for ...

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NMMA, coalition partners participate in new tariff hearings

Yesterday, the Office of the U.S. Trade Representative (USTR) held the first day of hearings regarding proposed Section 301 tariffs on approximately $300 billion worth of Chinese products (List 4). Held at the International Trade Commission, NMMA participated by bringing items that would be affected by the administration's newest round of proposed tariffs. NMMA was joined by representatives from the ...

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Agreement reached for Section 232 tariffs

On Friday, Canada, Mexico, and the U.S. reached an agreement on Section 232 aluminum and steel tariffs and subsequent retaliation. The agreement clears the deck for ratification of the United States-Mexico-Canada agreement (USMCA) and marks the end of all North American retaliatory tariffs on boats. In response, NMMA president, Thom Dammrich stated, "The agreement between the U.S., Canada, and Mexico ...

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Canadian government lifts retaliatory tariffs on boats

NMMA Canada and the Canadian Marine Trades Associations were recently advised by the Government of Canada that effective April 30, 2019, all retaliatory tariffs on U.S. recreational boats entering Canada have been removed. A joint statement from NMMA Canada and NMMA said this marks the most positive development for the industry since the tariff issues first emerged. The action from ...

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U.S. delays Section 301 tariff increase

Early this week, President Trump announced a delay in increasing Section 301 tariffs on the third list of Chinese products, which were scheduled to go from 10 to 25 percent on March 1. Hundreds of marine related parts and materials have been impacted by these tariffs, and NMMA welcomed this development and encouraged both sides to continue to work towards ...

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