NMMA National Marine Manufacturers Association : Trump Signs Executive Order to Withdraw from Trans-Pacific Partnership

President Donald Trump signed an executive order yesterday to withdraw the United States from the Trans-Pacific Partnership (TPP). The Asia-Pacific agreement, which the Obama administration negotiated, is written in such a way that it is effectively null without the participation of the United States. NMMA is discouraged by the new President's action, as the TPP is an important agreement that strengthens global trade, pin-pointing the Asia-Pacific region.

'Without the TPP, the recreational boating industry and specifically, U.S. boat manufacturers, are at a disadvantage - limiting growth in the international marketplace,' noted Nicole Vasilaros, V.P. of Government Relations. 'The recreational boating industry benefits from the TPP, which provides regulatory transparency and measures to ensure cooperation among regulatory bodies, reducing burdensome and duplicative rules.'

Specific TPP benefits for boating include: lower tariffs, mechanisms for standards harmonization and development of best practices for countries without a regulatory regime, customs transparency and opportunity for adjudication, and reduced technical barriers to trade.

NMMA will continue to advocate on trade policies that benefit the recreational boating industry, and will work alongside strategic partners at the U.S. Department of Commerce to ensure NMMA members remain globally competitive with a healthy balance of domestic and international sales.