Tariffs and technology the main subjects this week - MarineBusinessWorld North America newsletter
by Peter Rendle 2 Apr 20:00 BST
Fishing rods and reels in the ocean © American Sportfishing Association
President Trump has labelled April 2nd as "Liberation Day" - a day in which his administration is planning to impose a round of fresh tariffs particularly focused on easing trade imbalances with nations that export more goods to the U.S. than they import from America.
These reciprocal tariff actions will likely target the 15 countries that make up the bulk of the U.S. trade deficit, including China, Canada, Mexico, Japan, Korea, Taiwan and EU countries. ASA will host a virtual briefing on April 4 to discuss the impacts of these tariffs on the sportfishing industry. Representatives from ASA's trade firm, Sorini, Samet & Associates, will provide an overview of what is announced on April 2nd and answer questions from ASA members about reciprocal tariffs and other trade actions on ASA members' minds.
Marine technology companies continue to expand. Vessev, a leader in innovative marine technology, is pleased to announce its global expansion into the US market with the appointment of Josh Trout as Director of North America. New Zealand-based electric hydrofoiling ferry company Vessev has opened its first international office in the USA, to address growing US demand for its innovative marine technology.
Avikus, a leader in autonomous navigation solutions and a subsidiary of HD Hyundai, has joined the newly established MIT Maritime Consortium. Launched at the Massachusetts Institute of Technology on March 18, the consortium brings together prominent maritime organizations to drive innovation and set international standards in autonomous navigation and maritime decarbonization. Avikus brings to the consortium its groundbreaking HiNAS Control system, an AI-based autonomous navigation solution designed to enhance maritime safety and efficiency.
Meanwhile, the NMMA is now accepting nominations for the 2025 Hall of Fame Award, the Association's most prestigious honor. This annual award recognizes individuals whose outstanding contributions have had — and continue to have — a significant and lasting impact on the recreational boating industry.
LOOKOUT, a leading provider of marine AI systems for safety, announced it has solved a common installation dilemma for boat owners with its innovative new system that integrates its advanced AI vision cameras with a Coast Guard-certified all-around white navigation/anchor light from innovative partner and trusted marine lighting veteran Lumitec. This first-of-its-kind solution addresses the competing need for both technologies to be mounted at the vessel's highest point, eliminating installation conflicts while enhancing safety capabilities.
BRP Inc (TSX:DOO; NASDAQ:DOOO) has announced that it has entered into a definitive agreement to sell 100% of the outstanding shares of Telwater to Yamaha Motor Australia, a subsidiary of Yamaha Motor Co. The acquirer has been established in the region since 1983 and a key player in Australia's boat industry. This transaction follows BRP's decision to sell its Marine businesses to channel its efforts and investments towards its core Powersports activities.
ePropulsion Americas, the global leader in marine electric propulsion systems and services, has announced its continued success across the globe, thanks to growth driven by its diverse lineup of new products such as the eLite and X Series electric outboard platforms. During its most recent distributor meeting, ePropulsion celebrated a 40% increase in sales in 2024, compared to 2023. In North America specifically, the Company celebrated a multitude of accomplishments, including a 22% increase in sales, 25% growth in new dealer locations, and 33% growth in new OEM partnerships.
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Peter Rendle - peter.rendle@worldmarine.media