The Canadian government has some good news for the U.S. boating industry, and for new boat buyers there. It just announced that it is ending the 10 percent retaliatory tariff on boats imported from the U.S.
The Canadian government imposed the 10 percent tax on boats imported from the U.S. last July 1 in retaliation for President Trump’s 10 percent tariff on aluminum and 25 percent tariff on steel imported from Canada. The tax hurt many U.S. builders who had been selling a significant percent of their new boats to dealers and buyers in Canada (see picture of the Cutwater 28, above).
In a joint statement, the NMMA (National Marine Manufacturers Association) and NMMA Canada said, “We are thrilled the Canadian government heard our concerns and addressed them head on.” It said the tariffs had “devastating consequences” on small businesses on both sides of the border, and called the Canadian decision “a major win for all of us.”
The tariffs were lifted effective April 30 and the details will be published by the Canadian government on May 15.
