Browsing: trade wars

Cruising Life
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Boating Leaders Voice New Concerns About Tariffs

Leaders of the boating industries in the U.S. and Canada say they were disappointed that the new $1.2 trillion trade deal that the U.S., Canada and Mexico signed at the Group of 20 summit in Buenos Aires did not ease retaliatory tariffs hurting boat manufacturers. The trade deal, called the U.S. Mexico Canada Agreement, was signed by President Trump, Canadian Prime Minister Justin Trudeau, and Mexican President Enrique Pena Nieto. It needs to be approved by Congress to take effect here. The issue dates to when the Trump Administration imposed tariffs on imported steel and aluminum. The European Union, Canada…

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U.S. Boat Builders Hit Hard By New Tariffs, Trade Wars. MJM Loses $2.2 Million Sale

“NEWPORT, R.I. (AP) – MJM Yachts has already felt the sting of tariffs. “CEO Bob Johnstone was negotiating the sale of a 53-foot, $2.2 million yacht to a buyer in Monaco when the European Union announced a 25 percent tariff on American-made boats as retaliation for the Trump administration’s tariffs on imported aluminum and steel. “The deal is now dead. So is the Rhode Island-based company’s plan to expand sales into Europe. “American boat builders 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…

On Watch with Peter Janssen
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On Watch

Trade Wars Already Hurting U.S. Boating. Sales Are Cancelled, Layoffs Are Threatened By Peter A. Janssen The Trump Administration’s trade wars are already hurting U.S. boat manufacturers, as European and Canadian sales are cancelled because of higher tariffs. Some manufacturers say they will have to cut production and lay off workers if the trade wars continue. In retaliation to the tariffs that President Trump imposed on some imports, the European Union has imposed a 25 percent tariff on sail- and power-boats built in the United States. For its part, Canada will start a 10 percent tariff on U.S.-made boats starting…

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Maine Lobstermen Taking Hits from Warming Waters, Trade Wars

Lobstermen in Maine are taking a double hit these days, one from global warming, the other from the impending trade wars. Both can have long-term consequences for an industry that accounts for half a billion dollars a year. Water temperature in the Gulf of Maine has been rising since the early 1980s, as a result of global warming. Until recently, this was a good thing, with lobsters – and the entire lobster industry – thriving. But now we may be on the downward cusp of too much of a good thing. The waters are getting too hot and lobsters are…