Trade Policy Update: Key Developments for Recreational Marine Manufacturers

NMMA continues to monitor and engage administration officials and policymakers on the latest trade and tariff developments. Below is a recap of the latest developments with more on the horizon.

CIT Strikes Down Section 122 Tariffs (for plaintiffs)

• Last week, the U.S. Court of International Trade (CIT) struck down the administration's tariffs imposed under Section 122 of the Trade Act of 1974. An appeal was filed immediately, and a temporary stay of the decision is in effect.
• As a reminder, the Section 122 tariffs are the 10% tariffs imposed for 150 days that went into effect following the Supreme Court's decision on the administration's use of the International Emergency Economic Powers Act (IEEPA).
• Of note, the CIT's decision only invalidates the tariffs and grants tariff relief to the specific importers that challenged the tariffs.
• The Section 122 tariffs are scheduled to expire on July 24.

CBP Issues Best Practices Guidance for Companies Filing for IEEPA Refunds

On May 7, the U.S. Customs and Border Protection (CBP) issued guidance outlining best practices to safeguard company information while filing for refunds of tariffs imposed under IEEPA.

The CBP warned of an increased risk of fraud coinciding with the rollout of the first phase of the refund process and development of the Consolidated Administration and Process of Entries tool to assist with the refunds.

President Trump Visits China

This week, President Trump and a delegation of administration officials traveled to China to discuss trade, market access for U.S. businesses, and other geopolitical issues. Secretary of Treasury Scott Bessent noted one of the administration's goals continues to be resetting what the White House describes as a major trade imbalance between the two countries. During the summit, President Trump invited China's top leader President Xi Jinping to the White House on September 24.

NMMA will continue working with the administration, Congress, and industry partners to ensure U.S. trade policy is targeted, balanced, and aligned with the needs of American manufacturers.

For more information, contact NMMA's Clay Crabtree, interim vice president of public policy & government affairs, at [email protected].