NMMA and other industries push back against latest China tariff - Trade Only Today

NMMA and other industries push back against latest China tariff

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Leading technology companies and the marine industry have expressed opposition to President Trump’s plans to hit China with billions of dollars in tariffs over the country’s intellectual property protection policies.

According to TheHill.com, the Information Technology Industry Council wants the Trump administration to work with a coalition of allies to pressure China into changing its trade practices instead of using tariffs as punishment.

ITI CEO and president Dean Garfield wrote a letter to Treasury Secretary Steven Mnuchin and U.S. trade representative Robert Lighthizer encouraging them and our allies to negotiate a “fair and reciprocal trade relationship,” according to the website.

It’s been reported that Trump has said he will use his authority under section 301 of the Trade Act of 1974 to impose $50 billion in tariffs on Chinese exports to punish Beijing for alleged theft of U.S. intellectual property and for forcing American businesses to hand over their technology.

In a statement today, the National Marine Manufacturers Association said it is encouraging its members to add their voice to this issue. A new 25 percent tariff on a list of more than 1,300 products imported from China includes the following recreational marine products:

  • Aluminum and steel wires, bars and rods
  • Propellers
  • Hydro jet engines and parts
  • Marine engines
  • Fuel injection pumps for marine engines
  • Machinery used for bending metal and welding
  • Antenna receivers
  • Display monitors used for fish finders and gps
  • Navigational instruments and parts

NMMA joined a coalition of industries spanning dozens of industries from manufacturing to retailers that sent a letter to Congress calling for action. Additionally, NMMA is working directly with Congressional allies to voice the marine industry’s concerns.

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