As tariffs continue panic beginning to sink in

-Source-USAToday- Rob Parmentier has weathered some rough times in the boat building business but the trade wars with China Europe Canada and Mexico have shaken him to the core. Its been catastrophic" said Parmentier president and CEO of Marquis-Larson Boat Group which builds Carver yachts in Pulaski Wisconsin. The first hand grenade" as Parmentier described it was a 25 percent tariff the European Union placed this year on boats built in the U.S. along with scores of other products including Harley-Davidson motorcycles. Then there was a 10 percent tariff slapped on boats shipped to Canada along with price increases up to 40 percent on boat building materials. Its sent a shock wave through U.S. boat manufacturers. Weve had a lot of order cancellations. Canada and Europe have essentially stopped buying boats" Parmentier said. About 450 people work at the company a large employer in a town of 3600 residents. If boat orders continue to slide because of the trade wars Parmentier said it will trigger layoffs that could last a long time.