BoardSport Source Issue #124 May/June 2025
Tariffs…what Tariffs? That is the question
2025 had begun with an okay winter season, the bigger brands were feeling more comfortable with the results than the smaller brands, as shops try to reduce their risk by experimenting less whilst stocking up on existing best sellers. Initially the summer was looking like it was going to be another slow season but then the lightning bolts landed from the White House. Trump has decided it’s time for change – unprecedented in decades, maybe the end of free trade as we know it. But given the number of times he reverses his decisions, the only predictable thing is the unpredictability of the ongoing situation. Business needs predictability to plan ahead, good news or bad news – business can prepare, but not when the future is so uncertain.
For boardsports the impact is likely to be enormous as so many of our brands are based in the USA and much of our product is made in South East Asia and China in particular. Already logistics are beginning to look like a Covid 2.0 and supply chain disruption is not being stopped by the 80 day tariff holiday! Management everywhere is going from one meeting to another making plans for all eventualities.
In Europe the main impacts are likely to be the rerouting of product into the European market, but the EU has tools to stop significant dumping, and US-based brands need all the help they can get from their European subsidiaries.
For European brands exporting to the USA the size of the impact depends on where their products are manufactured. The EU has one of the biggest trade imbalances for goods with the USA, so may find itself right in the firing line.
The one positive so far is Europe’s politicians realising now that it’s time to put our money where our mouths are. According to Trump, Europe needs to stand up and be counted and so it’s likely the European economies will be reflated on the back of a massive increase in defence spending. So, it might not be the way we would like this to happen but a stronger Europe should benefit all business – including Boardsports.
On that last positive note the next issue looks at what’s new for next season in our markets and we talk to brands moving ahead in our troubled waters. Our Big Wig is Renaud Lacoste, President of the Tahe Outdoors Group, who are riding the storm with the advantage of home-grown production. As with any situation – new opportunities will occur.
By the time you read this editorial, who knows what might have happened and what new eventualities you will be preparing for, but a stronger Europe will be good for us all.
Sideways with a 10% Tariff
Clive Ripley
