Tag Archives: trade war

NMMA recaps recent trade developments, urges more action

There have been several developments on the trade and tariff front in the past few weeks. While NMMA said it is encouraged with the recent ratification of the United States-Mexico-Canada Trade Agreement (USMCA) and the initial Phase One Trade Agreement with China, the association says more work is needed to remove tariffs and ensure the recreational boating industry can continue ...

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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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US-China trade war continues to intensify

Late last week, President Donald Trump announced that his administration will raise duties on $250 billion in Chinese goods from 25% to 30% and increase tariffs on another $300 billion in products from 10% to 15%. The move comes on the heels of recent actions by both China and the U.S. that have escalated the long running trade war, which ...

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Trump Administration announces additional tariffs on Chinese products

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 ...

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NMMA recaps Section 301 tariff developments

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 ...

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Correct Craft hosts industry roundtable on tax reform

Correct Craft recently hosted a roundtable of boating industry leaders who met with U.S. Rep. Vern Buchanan (R-Fla.) on issues related to tax reform and global trade. Buchanan, an influential member of the House Committee on Ways and Means and chairman of its Tax Policy Subcommittee, has been asked by House Speaker Paul Ryan to survey business leaders to recommend ...

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TPP – Thank you President Trump for reconsidering

Global trade has been in the headlines recently and many are concerned about the impact of a trade war. The U.S. and China have both been using threatening rhetoric that has some people worried. Because of these developments, President Trump has recently asked his team to reconsider the administration’s position on the Trans-Pacific Partnership (TPP). TPP was a hot campaign ...

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NMMA trade war concerns shared internationally

The International Council of Marine Industry Associations and the European Boating Industry have joined NMMA in calling for a constructive solution to the current trade escalation between the United States and the European Union. In a joint statement shared with the Administration as well as numerous marine and political leaders and groups across the globe, the three organizations note, "At ...

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