On Monday, NMMA hosted a members-only webinar to provide an overview of recent and upcoming trade and tariff developments and their potential impacts on the recreational boating industry. With trade and tariff policies rapidly evolving, NMMA’s advocacy team and outside legal counsel underscored the importance of proactive preparation, supply chain assessment, and engagement with policymakers.
The briefing featured NMMA Senior Director of Public Policy Clay Crabtree, Partner at K&L Gates and former trade specialist with the U.S. Department of Commerce Nate Bolin, and NMMA Vice President of Government Relations Jacky Usyk.
During the webinar, NMMA outlined the trade policy changes already in effect or on the horizon, including:
- A 25% tariff on non-USMCA-compliant imports from Canada and Mexico, effective March 4.
- An additional 20% duty on Chinese imports, layered atop existing Section 301 tariffs, resulting in effective rates of up to 45% on some products, effective March 4.
- Section 232 tariffs on steel and aluminum, at 25% each, now expanded to derivative products, effective March 12, 2025.
- The European Union’s current plan to impose retaliatory tariffs on U.S.-built boats – ranging from 25% to 50% depending on boat type – beginning mid-April.
- Canada’s anticipated implementation of retaliatory tariffs targeting U.S. goods in early April.
- A new 25% tariff on goods from countries that import Venezuelan oil, effective April 2. In 2023, China bought 68% of the oil exported from Venezuela.
The webinar also addressed anticipated developments, including the administration’s forthcoming reciprocal tariff program to be announced on April 2.
NMMA has been actively engaging the administration and Congress to advocate for a targeted and nuanced approach to trade policies that preserve American competitiveness and protect domestic marine jobs.
