Tariffs hit boating industry as peak season kicks in

Channel: Fox Business
Published: 6 hours ago

Description
FBN's Jeff Flock talks to Brunswick Corporation CEO David Foulkes about the impact of tariffs on boating industry. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York...



Transcript
You know the one thing about tariffs: is they spread far and wide in the sum of the darkness areas? It'S already impacting, for example, the boating industry, as peak season is kicking in, doesn't jeff locke know it he's on lake michigan, with more from one company dealing with that fight. As we speak, hey jeff, you said it. Neal always want to do an interesting venue. We'Re not at the pig farm th ...
s time, but somebody else who's impacted and that's david folks and ceo of brunswick, which is all about boats. Everything from mercury, marine to sea, ray boats, we're on a what is this were on a boston. We lost the boiler 350 round - that's a35 foot boat with triple mercury engines on it say the engines are the key in terms of tariffs because you make small engines in china, but you know, and the tariff is a hit, how much you've been here? Well, the good news for us in terms of a hit really was that we were able to get an exemption for those that those that narrowband of engines that we make in china, the vast majority of our engines we make in the us. I want to show you in fact, let's show you the engines that are made in the us neal, because these are mercury engines, and you know you remember those they're legendary. These are 400horsepower engines and there are three of them back there, which means. I don't know: what do you go about 100 miles, an hour's we do 60. This boat will do about 60 miles an hour yeah, but the success story is that the commerce department was willing to listen to you and say what your competitors are from. Japan aren't. Subject to tariffs, no they're not subject to tariffs.

Obviously we're a formidable player in the u. s. marine industry. We make the vast majority of our products in the us and we sell a lot of them in the us. So it really didn't make sense to apply tariffs to a us company when most of the competition isjapanese exactly right, and i should leave you with this neal and that is that all brunswick now is all in on marine rain boats and and and before we get Away, hey, you know what let's do this: can we go ahead and crank it up, go ahead and crank these up, because these 400 horsepower - and i just want to show you what this feels like so i'm gon na hold on you got rid of the billiard. She got rid of the bata, the the bowling and the business business is in the process of being divested right now. Yes, whoa! Look at that neal! Oh look at that power cregan and also made right here - well madehere, right here in the usa, in fond du lac, wisconsin there we go back to you, sir, that is beautiful. It kind of beats the pig farming thing you were doing last week, but it's it's! It'S a close one, all right thanks, buddy, very much jeff locke.


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