There have been several changes on the Section 301 tariffs front since August 1. While NMMA continues to caution against further escalating the trade conflict, some recent actions are encouraging.
On Tuesday, the Trump administration announced their final list of $16 billion in Chinese products that will face a 25 percent tariff starting August 23. The list contains a range of marine related products. However, floating docks were among the items excluded, drawing applause from the industry.
Last Friday, China announced new tariffs on approximately $60 billion worth of U.S. exports. The move was a result of the Trump Administration’s proposed increase of Section 301 tariff from 10 to 25 percent on $200 billion in Chinese goods. For the first time boats were included on China’s retaliation list – with tariffs ranging from 10 to 25 percent – which brings the total number of countries that have retaliated against U.S. boats to four.
In response, NMMA’s Senior Vice President of Government Relations and Legal Affairs, Nicole Vasilaros, stated, “China’s tariffs are unfortunate but given the trade war’s rapid escalation in recent months they certainly don’t come as a surprise. 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.
“We applaud President Trump for his commitment to cracking down on China’s unfair trade practices and theft of American intellectual property, but the current approach misses the mark. We urge the President to use the recent agreement with the European Union as a model and work with our allies to negotiate trade agreements that work for all of us.”
Because of the potential tariff increase, the administration has extended the deadline for submitting comments and requests to testify, and NMMA is encouraging all affected members to weigh in.
Click here to file comments and a request to testify: https://www.regulations.gov/document?D=USTR-2018-0026-0001
The written comment period will now close on September 5, and the due date for requests to appear at the public hearing is August 13. NMMA can assist interested parties with all aspects of the submission process.
NMMA is continuing to engage on this issue and provide updates as the situation evolves. A factsheet explaining all tariffs impacting the recreational boating industry is available here: http://nmma.net/assets/cabinets/Cabinet517/180808_Tariffs%20Impacting%20Industry%20Factsheet%20FINAL.pdf
For more information, please contact NMMA Senior Vice President of Government and Legal Affairs, Nicole Vasilaros at firstname.lastname@example.org or NMMA Director of Federal Affairs, Lance West at email@example.com.