Skip to main content

U.S issues final duties on Chinese aluminum sheet

tariff_source- tariffs hurt the heartland

The U.S. Department of Commerce said Wednesday it would impose final antidumping and countervailing tariffs on Chinese common aluminum sheet products of 96.3 percent to 176.2 percent.

It’s the first time that final duties were issued in a trade remedy case initiated by the U.S. government since 1985, according to Reuters. The final aluminum sheet duties, however, were reduced from those first imposed in April and July. The initial combined range was 198.4 percent to 280.46 percent.

The National Marine Manufacturers Association estimates that prices of aluminum sheet, even domestically produced products, have increased between 30 and 40 percent.

A coalition of businesses that oppose tariffs, called Tariffs Hurt the Heartland, say companies paid 50 percent more in tariffs in September than the same month a year ago, according to CNBC.

The businesses paid $4.4 billion in tariffs in September this year, with the increase driven primarily by $1.4 billion in tariffs on Chinese imports and foreign steel and aluminum, according to the group.

The export tariff data released Thursday shows that retaliatory tariffs had an immediate and severe impact on US exports. In September, US exports of products subject to retaliatory tariffs declined by $2.5 billion, or 26 percent, from the previous year.

The coalition unveiled an interactive tariff tracker map that links articles that highlight situations in which tariffs hurt companies, farmers and consumers around the country.

In 2017, 44 percent of all new boats sold, or 111,0000, were aluminum based, accounting for $3 billion in economic value, according to the NMMA. Domestic aluminum boat production and sales account for nearly 22,000 marine industry jobs.

The NMMA and members have testified before the International Trade Commission, which is scheduled to make a final decision in the case on or before Dec. 20, to ask the administration to remove all the tariffs. 

Related

1_WHALESACTION

NMMA: Proposed Speed Rule an ‘Existential Threat’ to Industry

The association is calling on every marine brand, employee and boat owner to file public comment by Oct. 31 over a sweeping regulation to protect North Atlantic right whales.

1_AXOPAR

Axopar and Nimbus Renew Agreement

The boatbuilders have entered an agreement whereby Nimbus Group will retain exclusive rights to sell Axopar boats on the Swedish market.

1_IAN

Hurricane Ian Leaves Devastation in Florida

The storm left a wide swath of destruction, heavily impacting marine interests from Tampa Bay to Marco Island.

Norm

Email Is Your Ticket to Holiday Sales

Developing an effective email campaign can bolster sales and help fill winter coffers at your dealership.

1_NMRA

NMRA Presents Annual Awards

Edson CEO Will Keene and ComMar Sales president Tim Conroy were recognized for their contributions to the marine industry.

1_ PULSE.PING.2

DEALERS: Are Interest Rates Impacting Demand?

This month’s Pulse Report survey asks dealers whether interest rate increases are causing a downturn in boat sales. Take the survey here.

1_EPROPULSION

EPropulsion, Mack Boring Partner with Crest

Pontoon builder Crest will use an ePropulsion Navy 3.0 Evo electric outboard motor and an E175 battery for its 2023 Current model.

1_BENETEAU

Beneteau Reports Significant H122 Growth

The company reported that its revenue grew 8.6 percent and income increased by 30 percent during the first half of 2022.