Please select your home edition
Edition
Cyclops 2020 - SmartlinkNano - LEADERBOARD

Int'l Boating Industry Stakeholders urge President-Elect Biden to resolve U.S., E.U. Trade dispute

by National Marine Manufacturers Association 5 Jan 05:48 PST
International Boating Community urges US, EU trade officials to remove tariffs on boats © NMMA

Late last month, NMMA, the European Boating Industry (EBI), and the International Council of Marine Industry Associations (ICOMIA) sent a letter to President-Elect Joe Biden congratulating him on his election victory and calling on him to swiftly address trade relations between Europe and the U.S. Following the Trump administration's Section 232 tariffs on aluminum and steel imports, the E.U. responded by levying a 25 percent retaliatory tariff on a range of American made products - including boats and engines - which has significantly reduced U.S. boat exports to Europe.

"As you are aware, the U.S. section 232 steel and aluminum tariffs caused a ripple effect, not only increasing the price of raw materials for manufacturers, but resulting in retaliatory action by our top trading partners, such as the E.U," wrote the organizations. "Since 2018, the E.U. placed a twenty five percent retaliatory tariff on U.S. boat exports, decimating our industries top export market. Exports are down over forty percent year over year, resulting in over a $400 million loss to U.S companies. The impact of these tariffs is also seen in Europe, as it has disrupted retail sales and distribution networks."

To read more please go to the original article.

Related Articles

Powerboat retail sales reach record highs
November was another historic month for new boat sales According to NMMA's latest New Powerboat Registrations Report, November was another historic month for new boat sales. Posted on 15 Jan
NMMA and Informa Markets join forces to unite MIBS
NMMA announced a landmark partnership with Informa Markets The NMMA announced today a landmark partnership with Informa Markets to create the first joint production of South Florida's preeminent winter boat shows—the Miami International Boat Show (MIBS), Miami Yacht Show (MYS) and Superyacht Miami. Posted on 14 Jan
NMMA announces changes to Boat Show Schedule
Canceling this year's Progressive Insurance New England Boat Show After a thorough market-by-market evaluation of its boat shows still on the schedule for the first quarter of 2021, the NMMA have announced it is canceling this year's Progressive Insurance New England Boat Show Posted on 9 Jan
U.S. boat sales reached 13-year high in 2020
Increasing last year by an estimated 12 percent compared to 2019 The NMMA reported today that retail unit sales of new powerboats in the U.S. increased last year by an estimated 12 percent compared to 2019. Posted on 7 Jan
2021 Minneapolis Boat Show canceled
The most prudent course of action in the circumstances We have made the difficult decision to cancel the 2021 Progressive® Insurance Minneapolis Boat Show®, which was scheduled from January 21-24, 2021. Posted on 28 Dec 2020
Record month for new powerboat sales in October
A historic month, up 18 percent compared to September The NMMA reports October was a historic month for new powerboat retail sales. Data shows new powerboat sales gained momentum in October, up 18 percent compared to September, and up 30 percent year-over-year (YOY) on a seasonally-adjusted basis. Posted on 22 Dec 2020
2021 Nashville Boat Show canceled
Progressive Insurance Nashville Boat Show will return to Nashville in January 2022 The health and safety of our guests, exhibitors and employees is of the utmost importance, and following a thorough analysis regarding the feasibility of the show, this is the most prudent course of action. Posted on 21 Dec 2020
Dealer Week sees record-high participation
More than 1,040 dealership personnel participated in Dealer Week 2020 MRAA recently announced more than 1,040 dealership personnel participated in Dealer Week 2020, setting an all-time record for dealer attendance and surpassing the total attendance at the inaugural in-person Dealer Week in 2019 by 77 percent. Posted on 19 Dec 2020
West Marine's BlueFuture Program
Boating gives back in Month of Giving Today's member spotlight features West Marine—a California-based boating and fishing company, who kicked off their annual "Month of Giving" this December to support its nonprofit, BlueFuture®. Posted on 18 Dec 2020
2020 National Boating Industry Safety Awards
Announced by The Sea Tow Foundation and its North American Sober Skipper Advisory Council The Sea Tow Foundation and its North American Sober Skipper Advisory Council announced winners of the National Boating Industry Safety Awards, which recognize the best boating safety work in the for-profit section of the recreational boating industry. Posted on 17 Dec 2020
Cyclops 2020 - SmartlinkNano - FOOTERNorth Sails 2019 - NSVictoryList - FooterRS Sailing 2020 - RSSS - FOOTER