The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Fri Mar 2, 2018
The Recreational Vehicle Industry Association is saying that President Donald Trump's threatened tariffs will have a negative effect on the industry, regardless of whether companies are already using domestically produced steel and aluminum.
"These new tariffs will negatively affect the RV industry and its many supplier companies that use steel and aluminum, even those who source their steel and aluminum from domestic producers," RVIA says in a statement issued this morning. "With these new tariffs, the cost of imports will significantly rise, but it is also expected that the price of domestic steel and aluminum will increase."
RVIA noted there is still some confusion about the breadth of the Trump tariff plan, although he has promised a 25 percent tariff on all steel imports and a 10 percent tariff on aluminum. After going back and forth on announcing the tariffs Thursday morning, the president shouted out the answer that he is going ahead with the plan at the end of a media availability, according to a story in the Washington Post,
RVIA also commented on the state of confusion regarding the announcement.
“Yesterday, in a somewhat spontaneous manner, President Trump announced he will approve new tariffs on steel and aluminum next week,” RVIA states. “Trump has said these new tariffs are necessary to help the U.S. steel and aluminum industries recover from years of unfair trade practices. According to the New York Times, it is unclear whether the tariffs would apply to all imports or be targeted to specific countries, like China, who have been flooding the U.S. with cheap metals.”
The president has wide latitude to impose the tariffs, given that they are a result of a 232 investigation, which focuses on whether certain imports compromise U.S. national security by degrading the industrial base. In February, the United States Department of Commerce released a report concluding that the imports of steel and aluminum were a national security threat.
“RV Industry Association staff have been involved in many meetings on Capitol Hill and at the Department of Commerce on this issue and will continue to advocate on the behalf of the industry,” RVIA states. “Once the tariffs are formally signed, we will update you on the specific provisions.”
The Post reported that Trump was somewhat short in detail on Thursday.
“We’ll be signing it next week. And you’ll have protection for a long time in a while,” the president said. “You’ll have to regrow your industries, that’s all I’m asking.”
Investors appeared shaken by the news. The Dow Jones Industrial Average fell around 500 points, a loss of 2 percent, in early afternoon trading on Thursday.