NMMA Sounds Alarm Over New Section 301 Tariffs
On Monday, the Trump Administration announced that they will impose a 10 percent tariff on an additional $200 billion worth of Chinese goods starting Monday, September 24 and raise it to 25 percent at the beginning of 2019. Leading up to the formal decision, NMMA and their members encouraged the administration to forgo this tranche of tariffs in high-level meetings, testimony before a United States Trade Representative panel, and public comments.
The $200 billion in tariffs announced this week are the third wave of Section 301 the administration has levied against China in recent months. As with the first two series, the third list includes tariffs on a wide range of marine products – including, but not limited to, boats, fiberglass, rope and lines, and trailer tires.
The final list of goods impacted by this round of Section 301 tariffs – which was reduced from a total of 6,031 to 5,745 products – is available here: https://calculators.io/us-customs-list-of-tariff-impacted-items/
In response, NMMA’s President, Thom Dammrich, stated, “Rather than moving us closer to a deal that will stop China from taking advantage of American companies, these tariffs hurt U.S. businesses and put our economy at an even greater disadvantage.”
Dammrich continued, “The recreational boating industry is one of our country’s few remaining American made industries. But just like every other domestic manufacturing sector, we depend on international suppliers for some components, materials, and parts – most of which have never been or are no longer produced in the U.S. – to create in-demand products. The administration’s actions have directly jeopardized these essential global supply chains, and with it, American businesses, jobs, and the economy.
“As we have said from the beginning, cracking down on China for their numerous infractions is necessary and long overdue. However, ratcheting up tariffs on the heels of what could be a significant breakthrough in the trade war is misguided.”
China announced on Tuesday that they will retaliate with tariffs of 5 or 10 percent on $60 billion worth of U.S. exports, including boats, starting next week. This makes China the fourth market to retaliate against the U.S. recreational boating industry during the global trade war.
“China’s tariffs are unfortunate but given the trade war’s rapid escalation in recent months they certainly don’t come as a surprise,” said NMMA’s Senior Vice President of Government Relations and Legal Affairs, Nicole Vasilaros. “This is exactly why we oppose the trade war – they only result in tit-for-tat tariffs, with each side consistently trying to outdo the other.”
NMMA is continuing to engage on this issue and provide updates as the situation evolves. For more information, please contact NMMA Senior Vice President of Government Relations and Legal Affairs, Nicole Vasilaros at [email protected] or NMMA Director of Federal Affairs, Lance West at [email protected]