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American boat makers feel the crunch from Trump tariffs

by Michelle R. Smith 11 Aug 2018 04:33 PDT
Bob Johnstone, CEO of MJM Yachts, sits inside an MJM boat docked in Newport, R.I © Michelle R. Smith

MJM Yachts has already felt the sting of tariffs.

CEO Bob Johnstone was negotiating the sale of a 53-foot (16-meter), $2.2 million yacht to a buyer in Monaco when the European Union announced a 25 percent tariff on American-made boats as retaliation for the Trump administration's tariffs on imported aluminium and steel.

The deal is now dead. So is the Rhode Island-based company's plan to expand sales into Europe.

To read more please go to the original article.

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