Skip to main content

NMMA: ‘No way to weather the storm’ with 25 percent tariff

Engines, navigation equipment and components from China will now have a 25 percent tariff, threatening to add even more cost to aluminum fishing boats.

Engines, navigation equipment and components from China will now have a 25 percent tariff, threatening to add even more cost to aluminum fishing boats.

The Trump administration on Friday completed its first phase of Section 301 tariffs on about $34 billion worth of Chinese products, including marine engines, navigation equipment and components.

The tariffs could be expanded to $50 billion or more.

“On one hand, we’re happy to see the Trump administration is committed to cracking down on China for stealing U.S. intellectual property, including our members’ inventions,” NMMA president Thom Dammrich said in a statement.

“But on the other hand, putting a 25 percent tariff on $34 billion in products used by American manufacturers is the wrong solution,” he said. “Not surprisingly, with China fighting back and officially kicking off yet another trade war, recreational boating is being uniquely targeted because of our status as a true American-made industry.”

Nearly 300 marine-related products will immediately cost 25 percent more, Dammrich said.

“There is no way to simply weather the storm and see how this shakes out, as the cost of doing business for our members has instantly increased,” Dammrich said. “For some products, the additional cost to marine manufacturers will be in the thousands of dollars, resulting in employment changes, canceled expansion plans and halted growth.”

“We are having a hard time understanding why the president is choosing tariffs when they are directly putting millions of American jobs on the line, including the 650,000 supported by the U.S. recreational boating industry,” Dammrich said.

A trade war will do nothing to address intellectual property theft, he said.

“Instead of following in the footsteps of previous administrations and bringing on economic turmoil from tariffs, we need President Trump to get creative and negotiate substantive trade agreements that truly benefit American businesses, consumers and workers,” Dammrich said.

Related

01_DROUGHT

Open for Business

Despite drought conditions in the western United States, boating remains popular on Lake Mead and elsewhere.

1_OIL.PRICE

Crude Weakens and Gas Prices Ease

West Texas Intermediate crude oil fell below $100 per barrel yesterday, while gasoline and diesel prices have slipped from their June highs.

1_RFA.NIXON

RFA Hires Executive Director

Robert Nixon brings fishing-policy expertise and lobbying experience to the group’s efforts to preserve anglers’ rights.

Teaser-Graphic-6-29-22_2

2022 Women in the Industry Summit, Leadership Panel, Awards Ceremony & Reception

MONDAY, SEPTEMBER 26, 2022, MARRIOTT TAMPA WATER STREET, TAMPA, FL

DealerOutlook

Seabins Coming to Lake Erie

The devices, deployed as part of a pilot program, skim and collect debris from the water, including microplastics. Meanwhile, MBIA announces scholarship funds.

1_BOATSETTER

Boatsetter Reports Uptick in Rentals

The on-water experience company has seen triple-digit growth in pontoon and party-boat rentals, as well as fishing and yacht charters.

1_SMARTGYRO

Smartgyro Signs Distributors, Hires Sales Manager

The company said the three U.S. distributors, working with Bob Walker, will help expand its dealer network and brand recognition.

1_YEARGIN

The Upside of a Downturn

Economic challenges should push you to develop a strategy that helps you weather the storm and come out stronger on the other side.