US marine industry braces for impact of Trump tariffs
President Trump’s decision to impose tariffs on imports from Canada and Mexico has sparked ‘deep concern’ within the US recreational boating industry, with the sector bracing for the impact of a rapidly escalating trade war.
The National Marine Manufacturers Association (NMMA) has warned that these trade measures could disrupt key economic relationships with the USA, jeopardising the industry’s recovery and stability under the U.S.-Mexico-Canada Agreement (USMCA).
With Canada accounting for over half of American boat exports and Mexico playing a crucial role in supply chains, NMMA president and CEO Frank Hugelmeyer has called for a more measured approach, cautioning that retaliatory tariffs could harm the very businesses and workers they seek to protect.
In a statement published yesterday (2 February 2025), Hugelmeyer says: “The National Marine Manufacturers Association (NMMA)—the leading trade association representing the US recreational boating industry, which generates $230bn in annual economic impact—is deeply concerned about the escalating trade actions between the United States, Canada and Mexico.
“Recreational boating is a proudly American industry, with 95 per cent of boats sold in the US made in the US American-made boats are in high demand worldwide, and strong trade partnerships with Canada and Mexico are essential to our industry’s continued growth.
“Canada is the largest customer for American-made boats, accounting for 51 per cent of total U.S. boat exports, and Mexico plays a critical role in our industry supply chain. 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.
“Recreational boating supports 812,000 American jobs and 36,000 businesses across the U.S. To remain a strong job creator at home and a competitive force globally, our industry needs a balanced and stable approach to tariffs.
“NMMA supports the Trump administration’s commitment to protecting American citizens, workers and businesses. However, history has taught us that retaliatory tariffs harm the very workers and industries they aim to support. We urge the administration and Congress to pursue alternative solutions that safeguard American manufacturing while allowing our industry to grow, innovate, and deliver American-made products to consumers at home and abroad.”
The tariff announcement comes during peak US 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.
Hugelmeyer was recently interviewed by Fox Business at the Discover Boating New York Boat Show on 24 January 2025 in New York City, telling the channel that the last time President Trump imposed tariffs, American boatbuilders 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, and we’re looking forward to working with the Trump Administration to do just that,” Hugelmeyer says.
Watch highlights of the interview below:
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