Ed Slack EDITOR’S COMMENT
http://www.ibi-plus.com International Boat Industry | JUNE–JULY 2018 1
Ed Slack | Editor | IBIThe brewing trade war between the US, Europe and
China has poured fuel on an increasingly volatile
leisure marine market. Though the general outlook
remains relatively bright globally with boat sales
and boater participation on the increase, negative
headlines surrounding established
brands such as Bavaria, Henri-
Lloyd, Nauticat, Oyster – is obvious
cause for concern. Though the
specifics of individual cases reveal
as one would expect, a highly-
nuanced picture, it would be hard
not to draw some challenging
conclusions, not least that Europe’s
much more fragmented industry
remains exposed. In contrast, aside
from aluminium and anti-dumping tariffs, recent
headlines from the US have been dominated by a
series of strategic acquisitions involving the likes of
Chris-Craft, Polaris and no doubt soon Sea Ray, with
the imminent sale of that brand on the cards as we
went to press.
That the two key markets are at different stages
of their respective growth cycles has some bearing
no doubt, and in the natural scheme of things
the gathering momentum among most sectors of
Europe’s industry would isolate the negatives.
An escalating trade war, however, has the
potential to distort those market cycles. In 2017,
US boat exports were up nearly 10%, equallingThe brewing trade war has
poured fuel on an increasingly
volatile leisure marine market
Ed SlackUS$1.7bn. Now EU dealers and brokers have already
begun cancelling boat orders. US demand for larger
European-built motoryachts was instrumental in
enabling many builders on this side of the Atlantic
to reach escape velocity from the crisis and to build
their order books. A check to those
sales, as a result of any retaliatory
measures which may be introduced
by the Trump Administration, will
be a body blow.
The industry knows there
can only be losers in this tit-
for-tat endeavour. The NMMA
and ICOMIA have written a
second letter to President Trump
emphasising the detrimental impact
of the tariffs on the global boating business, and urging
the Administration to reverse its decision.
With boats and motorcycles bearing the brunt of
tariffs in the recreational sector, it seems our
industry is again being unfairly targeted, and
stands to be, along with the consumer, the
principle victim.
Let’s hope the industry’s united voice
doesn’t fall on deaf ears.EDITORIAL
Editorial Director: Ed Slack
Tel: +44 (0) 798 402 6733 Email: [email protected]
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CORRESPONDENTS
Europe: David Robinson, Jake Kavanagh
USA: Tony Esposito
Brazil: Fernanda Teixeira VellosoFar & Middle East: Mike Derrett
France: Olivier Voituriez
Russia: Eugene Gerden
Scandinavia: Lars-Åke Redéen South
Africa: Bobby Jordan
Canada: Craig Ritchie
Turkey: Bahar Ozturk Australia,
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BOATING COMMUNICATIONS LTD
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Surrey , United Kingdom, GU7 1BX.ISSN 0020-twitter.com/ibinewsOur industry
is again being
unfairly targeted,
and stands to be, along
with the consumer, the
principle victim