NMMA says new tariffs on Chinese imported aluminum are now more than 200 percent.
The National Marine Manufacturers Association (NMMA) has issued a rare member alert regarding a new 167.7 percent tariff on alloy aluminum sheet imports from China. The U.S. trade association said that the total tariffs will now equal more than 200 percent.
“The Administration claims their trade policies aim to level the playing field for American workers, but instead these actions could hobble industries like recreational boating,” said Thom Dammrich, NMMA president, in a statement.
Dammrich said the Trump Administration’s “attempt to punish China” is “wreaking havoc” on the global economy. “These harmful policies will have costly effects across American industries, but few are being singled out quite like the U.S. recreational boating industry,” said Dammrich.
The higher tariffs include a 167 percent anti-dumping duty, at least a 33 percent countervailing duty and 10 percent Section 232 tariff on aluminum imports.
The NMMA said new tariffs have distorted the global aluminum market, making additional cost spikes all but inevitable. Dammrich called the new tariffs “terrible news” for aluminum and other boat builders. Aluminum boat sales represent 44 percent of new boat sales and account for $3 billion in retail sales.
Additionally, about 300 marine products imported from China that are used on boats are now subject to a 25 percent tariff.
“It’s time for the Administration to recognize the negative effects of its current direction and focus on negotiating substantive trade agreements that truly benefit American businesses, consumers, and workers,” said Dammrich.
NMMA issued a call for U.S. marine companies to take action through the lobbying group Boating United.