Escalating trade actions between the US, Canada and Mexico are proving deeply concerning for the American boating industry.
The US recreational boating industry generates around $230 billion in annual economic impact, with 95% of boats sold in the States made in the US, however the National Marine Manufacturers Association (NMMA) says strong trade partnerships with Canada and Mexico are essential to the industry’s continued growth.
“Canada is the largest customer for American-made boats, accounting for 51% of total US boat exports, and Mexico plays a critical role in our industry supply chain,” said NMMA president and CEO Frank Hugelmeyer.
“The past two years have been difficult for North American boat builders and these tariffs threaten our industry’s recovery and the stability of the US-Mexico-Canada Agreement (USMCA), creating uncertainty for thousands of American businesses—many of them small, family-owned operations—that contribute to the $1.2 trillion outdoor recreation economy.”
We need a carved-out approach to tariffs to position the American boatbuilder globally.
Frank Hugelmeyer
The NMMA points out that the last time President Trump imposed tariffs, American boat builders faced retaliatory tariffs from Canada, the industry’s largest export market, as well as the UK and the EU.
“We need a carved-out approach to tariffs to position the American boatbuilder globally,” added Frank.
And he said the tariff announcement comes during peak boat show season, in which thousands of American manufacturers of boats, marine accessories, and engines are looking to market and sell their products to consumers and other marine businesses.
“Recreational boating supports 812,000 American jobs and 36,000 businesses across the US.
“To remain a strong job creator at home and a competitive force globally, our industry needs a balanced and stable approach to tariffs.”
