Administration Pauses Most Reciprocal Tariffs, Increases Duties on China
On April 9, President Trump announced a 90-day pause on the country-specific reciprocal tariffs, applicable to countries not currently imposing retaliatory measures against the United States. A 10% universal tariff rate is still in effect for all trade partners except China, where the administration raised tariffs on imports to 125%, with some U.S. manufacturers potentially facing duties as high as 150% (including existing Section 301 tariffs). The administration indicated the pause is intended to support continued trade negotiations.
In a statement, NMMA President and CEO Frank Hugelmeyer said:
“The National Marine Manufacturers Association (NMMA) welcomes President Trump’s decision to temporarily suspend country-specific tariffs for most trading partners.
“This pause provides the administration and policymakers with a critical window to move a pro-growth agenda that includes tax and regulatory reform, and a thoughtfully balanced and nuanced trade agenda that addresses the specific needs and challenges faced by manufacturers in vital industries such as recreational boating.
“Recreational boating is a cornerstone of American manufacturing, directly supporting more than 812,000 U.S. jobs and contributing $230 billion annually to the nation's economy. With small businesses comprising 93% of boat builders, and American-made boats accounting for 95% of boats sold in the U.S., it is imperative that trade policies protect and foster the growth of this uniquely American sector.”
As global trade policy continues to evolve, the recreational boating industry continues to face near-term trade uncertainty. The 90-day pause on country-by-country tariff offers relief and the opportunity for negotiation, but manufacturers remain concerned about pending EU duties and future escalations.
NMMA continues to advocate for a trade policy approach that supports domestic production, avoids unintended harm to small businesses, and preserves market access in key regions.
more information or to share how trade policy is impacting your business, contact Clay Crabtree, NMMA’s Senior Director of Public Policy, at [email protected].