China is the fourth trading partner to add U.S.-built boats to its retaliatory tariff list. The country recently announced tariffs worth $60 billion on U.S. exports, including boats. The tariffs range from 5% to 20%. Canada, Mexico, the European Union and now China are targeting the U.S. boating industry.
Soundings Trade Only reported that on Tuesday (Aug. 7), the Trump Administration announced the final list of Chinese-imported products that would attract a 25% tariff starting Aug. 23. The list includes multiple marine-related products. The administration has excluded floating docks.
“China’s tariffs are unfortunate, but given the trade war’s rapid escalation in recent months they certainly don’t come as a surprise,” Nicole Vasilaros, senior vice president of government relations and legal affairs for the National Marine Manufacturers Association, said in a statement. “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 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.”
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