Forward of a hearing in the U.S. Property of Associates regarding the Biden administration’s trade agenda, NMMA urged the White Dwelling, United States Trade Consultant Ambassador Katherine Tai, and Commerce Secretary Gina Raimondo to strike an agreement with the European Union that helps prevent the trade bloc’s 25% tariff on U.S. boats and engines from doubling to 50% on June 1, 2021.

“The recreational boating industry has seen a 42% lower in exports to the European Union given that 2018 subsequent the introduction of U.S. tariffs on aluminum and steel and the EU’s subsequent retaliatory tariff on boats and engines – an astounding drop that will regrettably only worsen if Washington doesn’t act swiftly,” mentioned Frank Hugelmeyer, president of NMMA. “Continued tit-for-tat trade plan and tariffs will tie the palms of American maritime suppliers, who depend on this multibillion-dollar export industry to support just about 700,000 employment and 35,000 firms across the country.”

“Recreational boating has been just one of several industries to steadily add to developing back the overall economy as the country recovers from the pandemic,” Hugelmeyer reported “As the June 1 deadline quickly strategies, NMMA is contacting for prompt motion to reach an arrangement on the supreme removal of the European Union’s tariffs on our American-manufactured goods.”

For much more info, you should contact NMMA Director of Federal Governing administration Relations Clay Crabtree at ccrabtree@nmma.org.