Tariff news still taking the headlines - MarineBusinessWorld North America newsletter
by Peter Rendle 16 Jul 08:00 PDT
EU delays retaliatory tariffs until Aug. 1 © National Marine Manufacturers Association
Last Week, President Trump announced additional plans to impose new tariff rates on imports from several countries, including Brazil and the Philippines.
The President also noted that he will impose a new 50% tariff on copper imports following a Section 232 investigation into imports - NMMA submitted comments earlier this year, highlighting how the industry utilizes copper in several components, parts, and products.
On Monday, European Commission President Ursula von Leyen announced the European Union (EU) would further suspend its retaliatory tariffs, set to go into immediate effect, against American products, including recreational boats. The retaliatory tariffs were set to go into effect today, but the EU delayed the countermeasures following President Trump's letter to the commission indicating the US would levy a 30% tariff again European products beginning August 1.
Over the weekend, the President announced additional August 1 reciprocal tariffs for Canada and Mexico, among other key trading partners. Products from Canada would see tariff rates hit 35%, while products from Mexico would face a 30% tariff. So far, the administration has indicated that the USMCA-exemption for qualified products would remain.
The 2024 Annual Report for the U.S. Army Corps of Engineers (USACE) Natural Resources Management program shows how valuable access to federally managed resources are for recreational anglers. In 2024, more than 14% of freshwater fishing occurred on USACE managed waterways and hosted more than 2,000 fishing tournaments. Additionally, visitors spent over $13 billion and supported more than 80,000 jobs within 30 miles of USACE lakes.
The Wing Group is pleased to announce the appointment of Patrick Blake as Chief Operating Officer (COO), effective July 7. The Wing Group encompasses the brands Wing Inflatables, Henshaw Inflatables, Patten Company, FabTek Industries and Mustang Survival, all of which have built deep, trusted relationships with marine and aviation professionals and consumers over more than 75 years of combined experience.
Correct Craft announced its 2026 leadership transition plan, following Bill Yeargin's earlier announcement that he will be stepping down as CEO in March. On April 1, 2026, Yeargin will transition to Correct Craft's Board Chair, and Correct Craft's Chief Financial Officer (CFO), Zach Hutcheson, will assume both the CEO role and become a Correct Craft board member.
Marine Products Corporation (NYSE: MPX) announced the appointment of Gary Kolstad to the Board of Directors of the Company. Kolstad holds a degree from Montana Technological University in petroleum engineering and studied Psychology and Engineering at Montana State University-Bozeman. After a long career in various positions at a large, international company, he served as Chairman and CEO of public and private companies and currently holds multiple Advisory Board Member and Investor positions.
ePropulsion Americas announced the newest iteration of its lightweight electric outboard, the eLite 500W Long Shaft. Building on the success of the initial launch of the eLite platform, the new and improved model is the perfect power option for drift boats and inflatable fishing boats with transoms over 15 inches. In addition, the mounting bracket was re-engineered and the eLite Long Shaft has an enhanced bracket mechanism, and the bracket itself is more durable and easier to use.
RAILBLAZA, manufacturer of premium quality, user-friendly electronics, fishing and boating mounting systems and accessories, announced the launch of its new TracMount TieDown system. Designed to secure one-inch webbing straps, bungee cords or paracord, the track-mounted bracket is a versatile answer to reliable, customizable gear anchoring. Perfect for strapping down essentials, these brackets are made from heavy-duty glass-reinforced plastic and ready for any challenge.
Peter Rendle - peter.rendle@worldmarine.media