May 02, 2019

 

RETALIATORY TARIFFS ON US-MADE BOATS HAVE BEEN REMOVED

NMMA Canada and the Canadian Marine Trades Associations have been advised by the Government of Canada that effective April 30, 2019, all retaliatory tariffs on U.S. recreational boats entering Canada have been removed, marking the most positive development for our industry since this concerning issue first emerged.

The Canadian Marine Trade Associations have been advised that earlier this week, the Canadian government approved the "Order Amending the United States Surtax Order (Other Goods)," which ended the 10 percent retaliatory tariff on U.S. boats heading to Canada that was implemented in response to the U.S government's Section 232 tariffs on steel and aluminum.

Specifically, this action removes the following boat-related HTC codes from the list of goods subjected to the surtaxes:

  • 8903.10.00
  • 8903.91.00
  • 8903.92.00
  • 8903.99.90

As such, we have been informed that all boats imported on or after April 30, 2019, are no longer subject to retaliatory tariffs (on a forward basis). At this time the government will not issue rebates or refunds for surtaxes paid on boats prior to this action.

We have been advised by Canadian government representatives that this Order will be officially published on May 15, 2019 in Part II Canada Gazette. The next few weeks may still have some challenges in sorting through the details; we urge you to continue collaborating and communicating to support the entire industry.

We are thrilled the Canadian government heard our concerns and addressed them head on. Together, the boating industry worked tirelessly to raise awareness of the unintended consequences that the tariffs and countermeasures were causing boating businesses. As you are aware, eliminating retaliatory tariffs on U.S. boats has been a top priority for the industry, and this new announcement is a major win for all of us.

Thank you for all your help in achieving this victory.

Sara Anghel

President, NMMA Canada

Thom Dammrich

President, NMMA

Featured Articles

  • Prev
Announced on June 18, the exciting new Mercury Racing 450R outboard is purpose designed to bring ...
PORTS The Cruising Guides have been acquired from Metroland Printing Publishing & Distributing ...
Orillia’s Spring Boat, Cottage & Outdoor Show at the Port of Orillia and waterfront parks, Lake ...
Seattle’s 41st annual Lake Union Boats Afloat Show gets underway on Thursday, September 12 and ...
The Boating Ontario team would like to thank all those who participated and contributed to this ...
Boating BC is now accepting applications for the Glenn Spartz Scholarship, which offers financial ...
Registration Open: Level 1 Marine Service Technician Training in Sidney and Vancouver ...
Canadian Boat Shows has announced AD ASTRA Media Inc.  as the official publisher for the 2020 ...
ABYC is hosting free events which are perfect mini prep courses for the 2020 Marine ...
Previous IMI webinars included a review of the challenges faced by marinas and boaters as ...

BUSINESS VALUATIONS: THREE SITUATIONS WHEN YOU MIGHT NOT NEED ONE

 

Business ValuationsBy: Patrick Ungashick

Photo Credit: Dwain Bodkin


Business valuations are an important tool for owners and leaders of privately-held companies. For example, if you are doing sophisticated tax planning, buying-out a business partner, or if an owner is going through a marital divorce, then a valuation may be highly prudent—if not legally required. However, business owners and leaders should avoid rushing to get a valuation in circumstances where the need is not clear.

Read more about Business Valuations......

 

Marine Products

  • Prev
Boat decks often seem to bristle with hardware, spoiling the vessel's smooth lines and creating ...
Evinrude announced today the expansion of the revolutionary Evinrude E-TEC G2 product line to ...
Ossian Fasteners has announced that they are the first company in ...
Danish marine safety equipment manufacturer, Daniamant, announces the launch of the ODEO Strobe, a ...
ASA Electronics is bringing modern technology and style to the boating industry with the Marine ...
The W2K-1 transfers data from an NMEA 2000 backbone to any device (e.g. laptop, tablet ...
Boats can never have enough dry storage space, especially places that are safe from the prying eyes ...
B&G, the global leader in design and manufacturing of sailing electronics, announced today ...
A walk through any marina tells the tale: boat owners have a lot of stuff and not enough places to ...
Fusion, a worldwide leader in marine audio entertainment, continues to build on the innovation ...

People

  • Prev
George Armendariz, CEO of Groupe Beneteau Americas, announced today the appointment of Yannick ...
According to the Minneapolis Star Tribune on April 10 2019, Irwin Jacobs and his wife were found ...
Co2 Inflatables is pleased to announce that Jason Edwards, formerly of Grand/Gala Marine, will be ...
Marine electronics pioneer Darrell Lowrance, 80, passed away Saturday morning after suffering a ...
Extremely popular and well respected for leading the reemergence of Iconic Marine's three ...