> SUBSCRIBE FOR FREE! 

Hundreds of orders for U.S. boats have been canceled by Canadian boat dealers as tariffs introduced by that country are scheduled go into effect on July 1.

Soundings Trade Only reported that the tariffs were announced by the Canadian government following the Trump administration’s decision earlier this year to levy tariffs on imported steel and aluminum from Canada. Dealers in Ontario have already canceled 500 orders from the U.S. builders they represent.

“This is absolutely not a situation that has anything to do with economics,” Rick Layzell, CEO of Boating Ontario Association, told Trade Only Today. “Boat sales have been brisk this year and inventory pipelines are very low. The tariffs are adding a 10% increase, and with the rising prices from aluminum boat builders and sales taxes, consumers could see a 25% price increase overnight. Most are willing to let the deal die rather than pay that.”

About 100,000 new and used boats were sold in Ontario last year, according to NMMA Canada and about 65% of those boats came from the United States.

For the full story click here.