Congress just passed the United States-Mexico-Canada Agreement (USMCA) – a critical trade deal that will replace NAFTA.
Free and fair trade in North America is essential to the recreational boating industry – 40% of annual U.S. boat and engine exports go to Canada and Mexico, and nearly 20% of U.S. boat and engine imports come from those two countries.
While recreational boat building is a uniquely American made industry – with consumers across the world seeking out our products – marine manufacturers rely on free and fair trade, global supply chains, and a consistent business environment to remain competitive here at home and abroad.
The combination of tariffs on raw materials like aluminum and steel, goods from China, and retaliatory tariffs on U.S. boats make it more expensive to manufacture boats and stifle our exports.
Section 301 tariffs on $500 billion in Chinese goods have increased the price of hundreds of commonly used marine materials, parts and products like engines, fiberglass, inflatable boats, and trailer tires.
We agree that more needs to be done to address our trade imbalance, particularly China’s mistreatment of U.S. companies, but the administration’s current approach is nothing more than a war of attrition that nobody will win.