The Trump administration on Friday completed its first phase of Section 301 tariffs on about $34 billion worth of Chinese products, including marine engines, navigation equipment and components.
This story originally appeared on Trade Only Today.
The tariffs could be expanded to $50 billion or more.
“On one hand, we’re happy to see the Trump administration is committed to cracking down on China for stealing U.S. intellectual property, including our members’ inventions,” National Marine Manufacturers Association President Thom Dammrich said in a statement. “But on the other hand, putting a 25 percent tariff on $34 billion in products used by American manufacturers is the wrong solution.”
Nearly 300 marine-related products will immediately cost 25 percent more, Dammrich said.
“For some products, the additional cost to marine manufacturers will be in the thousands of dollars, resulting in employment changes, canceled expansion plans and halted growth,” said Dammrich. “We are having a hard time understanding why the president is choosing tariffs when they are directly putting millions of American jobs on the line, including the 650,000 supported by the U.S. recreational boating industry.”