Peter Barrett had no shame about admitting he was watching television from his desk at Smoker Craft Boats while talking to Trade Only Today for this article.
“I’ve got Bloomberg on a big screen in my office to make sure anything I’m saying right now, I don’t need to correct,” Barrett said midday April 8, with a 104% tariff on China expected to go into effect at midnight.
Stock markets continued to be volatile as the Trump administration announced that about 70 countries had reached out to begin tariff negotiations, and as China hit back April 9 with an 84% retaliatory tariff on U.S. goods. Headlines across mainstream media focused on widespread uncertainty.
• The Associated Press: “White House keeps world guessing.”
• The Wall Street Journal reported “carnage” in stocks amid a tariff selloff.
• The New York Times reported that tariffs were already reducing car imports and idling factories.
• The Washington Post reported that Americans were stockpiling European wines, in an apparent fit of panic-buying.
On April 9, corporate giants Walmart and Delta pulled their guidance, which happens when a company withdraws financial forecasts or projections it previously provided to investors, analysts or the public. “It’s clearly a fluid environment,” said Walmart CEO Doug McMillon.
Marine businesses, too, were trying to adapt almost minute-by-minute. Depending on which countries were involved in a U.S. company’s parts and product imports, or international dealer networks for exports, the news at any given moment could be a relief or a nightmare.
“China was a little bit more than I expected, a little bit more aggressive,” said Barrett, who is senior vice president of marketing and corporate development at New Paris, Ind.-based Smoker Craft. “But I can tell you that I am relieved by the Canadian situation. Having them report that there are no tariffs going into Canada will help us gain momentum for order-out retail boats that seemed to be on hold.”
The National Marine Manufacturers Association issued a press release encouraging members to do exactly what Barrett said his team at Smoker Craft has been doing: communicating one-on-one with lawmakers and considering the business impacts from trading partners increasing prices, and from potential retaliatory measures from key export markets.
“Trade policy will be a key topic at the upcoming American Boating Congress,” NMMA said, referring to its annual advocacy event, scheduled for May 12-14 in Washington, D.C. “Industry members are encouraged to contact elected officials directly to share how the tariffs are impacting their businesses.”
NMMA also continues to stress that the United States is the world’s largest boating market, with an economic impact of $230 billion and a workforce of 812,000 people.
The organization said it is seeking a fair-trade environment where marine manufacturers can equitably compete and grow markets both at home and abroad. NMMA president and CEO Frank Hugelmeyer told staff at the U.S. Trade Representative’s Office: “Our member-company businesses are unique and represent the best of manufacturing in the United States; 95% of all boats sold in the U.S. are made in the U.S. NMMA is seeking a fair-trade environment where marine manufacturers can equitably compete and grow markets both here and abroad.
“However, in these uncertain times, the protection of American boatbuilders, component-makers and engine manufacturers is needed due to the risk of losing market access,” Hugelmeyer added. “A retaliatory-tariff-free remedy needs to be the ultimate outcome for all sides.”
Barrett said the office of his congressman, Republican Rudy Yakym, was asking for as much information as possible about the impact of tariffs, so the information could be passed along in Washington.
“As soon as we feel there is something out there that is going to affect our business, we try to quantify it as best we can in terms of dollars or employees we’re going to have to lay off,” Barrett said, adding that there are no layoffs planned.
There are, however, expected to be consumer price increases for Smoker Craft’s 2026 model year because of tariffs, Barrett said. As one example of what the company was trying to navigate, there’s been a price increase on vinyl coming from Costa Rica. That country’s government is among those that have announced an intent to talk with the Trump administration, but the current situation was raising prices.
“In that example, our vinyl manufacturer came in and said they would split the tariff cost with us,” Barrett said. “They’re trying to do things to prevent us from doing an instantaneous price increase to the dealers.”
He added separately: “Where it gets complicated is that vinyl goes up 7%, the ladder goes up 8%, the lighting goes up 10%, you add all these things up together, and it’s like, wow, this is a serious increase.”
Barrett said that with tariffs on China, “we’re starting to see some price increases that we’re concerned about. We also have some vendors we’re very thankful for that are trying to make those changes for model year, which will help us with our pricing because that would be July 1. It’s a lot easier for us to incorporate higher prices for our product at that time with a new model year.”
