The U.S. has struck an agreement with Canada and Mexico on a $1.2 trillion trade deal after months of negotiations, but the pact did little to ease concerns about tariffs in the marine industry.
This story by Reagan Haynes originally appeared in Trade Only Today.
President Trump, along with Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto, signed the U.S. Mexico Canada Agreement, or USMCA, at the Group of 20 summit in Buenos Aires. The deal still must be approved by Congress.
“I am happy to see the USMCA signed and hope this will be a catalyst toward resolution of all trade issues,” Correct Craft President Bill Yeargin told Trade Only Today. “Unfortunately, even with this agreement, the retaliatory tariffs initiated by Canada and Mexico are still in place and they are hurting businesses on both sides of the borders.”
Yeargin hopes that meetings between Correct Craft, the National Marine Manufacturers Association, and the Trump administration will help everyone realize the impact of the current trade war and that “we can move quickly to close the deal on all trade issues.”
“We are still disappointed that the counter tariffs on U.S. boats into Canada are still in place,” NMMA Canada president Sara Anghel said. “I continue to actively work on this important issue for our members. I had a meeting today with a member of Parliament and I will be heading to our nation’s Capital next Wednesday to meet with the Office of the Minister of Small Business to discuss the tariffs.”
