Tariffs/Trade

A deal was reached last night to end the retaliatory tariffs on U.S.-built boats entering the United Kingdom.

The United States and the European Union resolved the trade dispute during the G20 Heads of State and Government Summit.

As a Dec. 1 deadline approaches, the European Boating Industry issued a joint statement urging U.S. and E.U. leaders to resolve the steel and aluminum tariffs.

Organizations in the E.U. and U.S. have issued a statement ahead of next week’s Brussels Summit urging for the termination of retaliatory tariffs.

On June 1, the European Union’s retaliatory tariff on American-built boats is set to double.

With new leadership in Washington, D.C., boatbuilders this year may see changes in relations with Canada, the European Union and China.

The 25 percent levy on U.S.-built boats exported to the EU has cost American manufacturers $400 million, the groups say.

The location will build its Aviara line of luxe dayboats.

The Trump Administration has reimposed aluminum tariffs.

For manufacturers, studies show that the damage caused by tariffs far outweighs the benefits.

The trade wars continue to take a toll on U.S. builders.

The USMCA and a “Phase One” tariff agreement with China are a good start, the trade association said, but much more needs to be done.

Yesterday’s U.S.-China trade agreement eases tariff rates on some imported marine products, but tariffs on more than 400 boating products will not change.

The Wall Street Journal reports that Beijing will lower import tariffs on frozen pork, pharmaceuticals and some high-tech components starting Jan. 1.

The agreement cancels tariffs on some products and reduces others by half.

The new agreement could help many U.S. marine businesses that import products and source parts from China.

Senate republicans say they won’t pass trade deal during impeachment trial.

Pete Hoekstra, a former Congressman whose district included S2 Yachts and Four Winns, learns about the economic hardships the EU tariffs have caused to some U.S. boat builders.

The American Sportfishing Association is encouraging members to apply immediately.

NMMA details marine industry implications.

Tariffs did curtail exports by 24 percent to Canada, Mexico and the European Union during the second half of the year, according to an NMMA report.