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 .
Mon Jun 11, 2018
Author: RV News Staff
Thor Industries President Bob Martin raised concerns about the steel and aluminum tariffs implemented by the Trump administration.
Martin said in a statement that while labor costs during the fiscal third quarter moderated, "we are experiencing inflationary price increases in certain raw material and commodity based components due in large part to the headwinds created by the announcement and implementation of the steel and aluminum tariffs and other regulatory actions, as well as higher warranty costs."
President Trump announced a 25 percent charge on steel imports and a 10 percent tariff on aluminum in March. He then decided in June to extend those tariffs to Mexico, the European Union and Canada, three key trade partners that had been previously exempt.
Mexico released its own set of tariffs in retaliation, targeting U.S. steel, cheese and pork. Canada also plans to slap dollar-for-dollar tariffs on the U.S., according to Foreign Affairs Minister Chrystia Freeland.
Europe will implement counter-measures against U.S. tariffs on steel and aluminum just like Canada, German Chancellor Angela Merkel said on Sunday, also voicing her disdain for Trump’s abrupt decision to withdraw support for a G7 communique.
Trump said on Twitter, after leaving the Group of Seven summit in Canada early, that he was backing out of the joint communique.
“The withdrawal, so to speak, via tweet is of course ... sobering and a bit depressing,” Merkel
Like Canada, the European Union is preparing counter-measures against U.S. tariffs on steel
and aluminum imports, in line with World Trade Organisation rules, Merkel said.
“So we won’t let ourselves be ripped off again and again. Instead, we act then too,” Merkel said, adding that a tariff-free area among G7 allies would be an ideal outcome, but that talks about such a trade bloc would have to include non-tariff barriers to trade.
Democratic U.S. Sen. Joe Donnelly, who has harshly criticized the Trump Administration for the tariffs, put out a statement in advance of the U.S.-North Korea Summit, saying he "hopes for verifiable progress toward North Korea denuclearization, but has made no new comments regarding the latest news about retaliation from other countries following the tariff hike.
“We all want the upcoming talks with North Korea to be successful," Donnelly said on June 11. "I support President Trump and his Administration’s stated goal of complete, verifiable, and irreversible denuclearization, and I continue to believe we should utilize all available tools–-economic, diplomatic, and military-–in order to give our country the best chance for a successful outcome that makes Hoosier families and America safer.”