Tariffs on boats, cribs, bourbon, more rattle Wisconsin manufacturers
“It’s been catastrophic,” said Parmentier, president and CEO of Marquis-Larson Boat Group, which builds Carver yachts in Pulaski, Wisconsin.
The first “hand grenade,” as Parmentier described it, was a 25 percent tariff the European Union placed this year on boats built in the U.S., along with scores of other products including Harley-Davidson motorcycles.
Then there was a 10 percent tariff slapped on boats shipped to Canada, along with price increases up to 40 percent on boat building materials.
It’s sent a shock wave through U.S. boat manufacturers.
“We’ve had a lot of order cancellations. Canada and Europe have essentially stopped buying boats,” Parmentier said.
Much more at USA Today Tariffs on boats, cribs, bourbon, more rattle Wisconsin manufacturers
When even the RICH stop buying, that is huge.
Poor people are just going to suffer even more from these tariffs that Trump is putting in place.
Tariffs trigger price inflation, which creates need to increase interest rates for loans.
Higher interest rates and prices reduce demand, which causes layoffs, which causes tax revenues to drop, which then triggers puncturing multiple bubbles. Hang on to your hats. It will be a wild ride.
Of course, Trump will call all of this ‘WINNING’ and MAGA.