Exports of ships and marine engines on the rise
The National Marine Manufacturers Association (NMMA) published its statistics on sales of marine boats and engines in 2018. Exports from the United States are valued at $2 billion, up 15% from 2017. Imports also increased by 5% to a record $3.3 billion.
The impact of customs barriers on boating is not very visible
The installation of customs barriers on recreational craft and engines from the United States was not effective until mid-2018. It has had paradoxical effects on the marine industry, comments NMMA President Thom Dammrich. "Most of the 2018 growth reflects a boom in exports before Canada, Mexico and the European Union's retaliatory tax measures took effect, in an effort by US manufacturers and international distributors to avoid paying additional taxes. After these tariffs were in place, exports to Canada, Mexico and the European Union fell by 24% in the second half of 2018."
Fears for outboard boats
The NMMA President also expressed his concern for the outboard boat market, "The United States has historically been an exporter of outboard boats. But trade war and retaliatory tariffs have the opposite effect by making US products less competitive abroad, opening the door to new market entrants from other countries."