Trump's U-Turn on EU Pumps Boating Stocks
Wednesday (4-9-25) Morning: The European Commission won the green light from EU governments to impose retaliatory trade tariffs against US imports. The retaliation was set to take effect April 15 and amount to about €22bn in extra costs.
As they had done before, the EU planed on strategically hitting businesses that would hurt the constituents of influential Members of the U.S. Congress, which included bourbon and boats. The European Boating Industry association said that the list of targeted items included sails and boating gear in additions to boats, according to the International Boating Industry newsletter
The EU tariffs were said to range from 10% to 25%.
Wednesday (4-9-25) 1:29 PM: President Donald Trump wrote that he came to the decision because more than 75 trading partners didn’t retaliate and have reached out to the United States to “discuss” some of the issues he had raised. He would leave just a nominal 10% tariff only the countries – except for China. Trump instead raised duties for it to 125%, effective immediately.
He also said some of his advisors were getting “yippy” and “getting afraid.”
Wednesday (4-9-25) 4:00PM Closing Bell at the New York Stock Exchange:
S&P 500 +9%
- Brunswick Corp (Sea Ray, Mercury et al) +14.52%
- Marine Products Corp (Chaparral & Robalo)+11.07%
- Mastercraft Holdings +13.94%
- Winnebago Industries (Chris-Craft & Barletta)+16.00%
- Malibu Boats (Cobalt) +12.63%
- Vision Marine Tech. (Electric Outboards & Boats) +12.24%