JackLuis
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American boat makers feel the crunch from Trump tariffs
One small market fucked by the "Stable Genius".
One small market fucked by the "Stable Genius".
American boat makers are getting pummeled on multiple fronts by tariffs and stand to be among the industries hardest-hit in an escalating trade war.
President Donald Trump's decision to impose tariffs on imported steel and aluminum has driven up the price of those essential materials for many boat makers. Europe, Canada and Mexico retaliated with tariffs on American-made boats. Meanwhile, new tariffs imposed on parts such as engines and navigation equipment imported from China are also pushing up costs.
As a result, they are selling fewer boats, considering raising prices and bracing for layoffs across an industry that employs 650,000 people in the United States at manufacturers, marinas and dealers.
"We have the unfortunate situation of being caught up in every part of this trade war," said Nicole Vasilaros, of the National Marine Manufacturers Association.