MIC: What will taxes on imports mean for powersports?
In the latest RideReport, the Motorcycle Industry Council (MIC) is asking powersports manufacturers, distributors, and dealerships to email their Government Relations Office (micgr@mic.org) about what the current trade war will mean for their businesses.
President Trump recently imposed a 25 percent tariff on Mexican and Canadian imports and doubled the tariff he placed last month on Chinese products to 20 percent. The MIC seeks input into how this may be felt in the powersports industry.
“We need to hear from our MIC members and leaders across powersports about what these new taxes will do to their businesses,” comments Scott Schloegel, MIC senior vice president of Government Relations. “As a result of the 20 percent China tariff, we have heard that at least one member company will need to stop selling certain vehicles in the U.S. The tariff would mean they would lose money on each unit sold.”
Schloegel also notes that there may be no tariff exclusions carve-outs for powersports imports as has the association has been able to do in the past. “So, please let us know how the full tariff amount would impact your bottom line,” he adds. “A wide range of products may simply be 20 or 25 percent more expensive for powersports companies – and for our customers.”
MIC is urging for support from powersports companies and dealerships in its efforts against tariffs and for the upcoming Powersports Capitol Hill Fly-In, where members can speak directly to their elected officials on behalf of the industry.
President Trump paused the tariffs on the auto sector yesterday, but it is unclear if this includes the powersports sector this time.
“At the request of the companies associated with USMCA, the president is giving them an exemption for one month so they are not at an economic disadvantage,” press secretary Karoline Leavitt said at a White House press briefing on Wednesday.
