The National Marine Manufacturers Association (NMMA) in the US is calling on marine firms to sign an online petition telling President Trump to make a deal that immediately withdraws tariffs to avoid an escalating trade war.
Last week the Trump Administration announced a new 167.16% tariff on common alloy aluminum sheet imports from China, bringing the total tariff on the product to at least 210%.
In addition, roughly 300 component parts commonly used in recreational boats are now subject to a 25% tariff, following a recent announcement of Section 301 tariffs on approximately $50bn worth of Chinese products.
Worse still, Canada, the EU and Mexico – which account for 69% of annual US boat exports – have announced retaliatory tariffs on boats of 10%, 25%, and 15%.
“In an attempt to punish China, the Administration is wreaking havoc on the global economy,” says the NMMA in a statement. “These harmful policies will have costly effects across American industries, but few to none are being singled out quite like the US recreational boating industry.
“With our industry facing tariffs on multiple fronts, it is important you let your voice be heard. Take action now and tell President Trump to make a deal that immediately withdraws these tariffs.
“Without a solution, our industry – and the entire US economy – will suffer.
“Take action NOW.”
To sign the petition, visit www.votervoice.net/NMMA/Petitions/1356/Respond