Yesterday, NMMA sent comments to U.S. Trade Representative Robert Lighthizer’s office regarding a request for negotiating objectives to modernize the North American Free Trade Agreement (NAFTA). The boating industry is keenly interested in the renegotiation and any consequential changes proposed. NMMA urged USTR to approach any renegotiations with an understanding of the key role Canada and Mexico play for U.S. marine manufacturers, as two of the three top boating markets for U.S. marine products, sales, and supply chain needs.
The majority of NMMA’s comments prioritized the need to maintain tariffs for recreational marine products, protect supply chains, modify rules of origin rules calculations for marine engines, reduce technical barriers to trade, and promote transparent regulations. A uniquely American made industry – 95 percent of the marine products used in the U.S. are made in the U.S. – manufacturers are avid exporters making a mark in more than 100 countries worldwide and NAFTA vital to business performance.
In 2016, Canada was the top destination for U.S. recreational exports with $517.6 million in export value. Mexico was the number three overall export destination, totaling $121.6 million for marine boats and engines.
NMMA will continue to work closely with the Administration and U.S. Trade Rep. Lighthizer on NAFTA reforms to ensure the industry’s interests are represented. Formal negotiations will not begin until mid-August. View the complete submission here. For more information on NAFTA negotiations, please contact Nicole Vasilaros at email@example.com.