One step forward: Cancelled tariffs from Canada and Mexico welcomed by industry

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The National Marine Manufacturers Association said it “applauded” the agreement reached last Friday between the U.S., Canada and Mexico. The agreement lifts the Section 232 aluminum and steel tariffs implemented by the U.S., while also canceling the counter-tariffs applied by Mexico and Canada. The Canadian tariffs, in particular, hurt U.S. boatbuilders that export new boats into that country.

"The agreement between the U.S., Canada, and Mexico on aluminum and steel tariffs – which also removed Mexico’s retaliatory tariffs on U.S. boats – is a significant step towards reaching a verifiable trade deal that benefits all Americans,” said Thom Dammrich, NMMA president, in today’s Currents e-newsletter. “We thank Mexican, Canadian, and American officials for their good-faith negotiations and tireless efforts that resulted in this much-needed resolution. Moving forward, we call on all three countries to address remaining trade issues – most importantly, ratifying USMCA to bolster the long-term success of our industry and respective economies.”

Dammrich noted that the 25 percent retaliatory tariffs from the European Union (EU), the U.S. boating industry's second largest export market, has had a “particularly devastating impact” on American boat builders. “In the wake of this agreement and President Trump’s decision to delay tariffs on cars and related parts, we urge the administration to swiftly finalize negations with EU that removes all tariffs on American marine manufacturers, so that companies in our industry can continue to prosper,” he said.