Industry head: “Tariffs mean challenges and opportunities for Australian businesses”

The recreational fishing industry in Australia has been warned that challenges loom on the horizon as a consequence of US tariffs, but told they also represents opportunities for local manufacturers.

Bob Baldwin, Independent Chair of the Australian Fishing Tackle Trade Association (AFTA) has told members that adapting to these changes will be crucial for businesses to navigate the evolving landscape and continue to thrive in the face of international trade policies.

“The imposition of tariffs on various goods can have far reaching effects, not only within its own borders, but also on global trade and industries,” said Baldwin. “The recreational fishing industry in Australia is no exception.

“One of the most immediate impacts is the increased cost of imported goods. For Australia, this could mean higher prices for imported items from the US such as rods, reels, lures and electronics which may see a price hike. This could also lead to higher operational costs for retailers and potentially higher prices for consumers.

“Tariffs can also disrupt the supply chain as companies seek alternative sources for their products to avoid higher costs. This may lead to delays in the availability of certain gear and accessories on the Australian market. Retailers could also experience stock shortages or longer lead times for replacing their inventory.”

Baldwin believes that in the long-term tariffs could influence innovation and investment in the recreational fishing industry. “Local manufacturers might invest more in developing competitive alternatives to imported goods, leading to greater innovation within the domestic market.”

He added that the competitive landscape within the industry in Australia could change. “Companies that can adapt quickly to new suppliers or absorb additional costs without significantly raising prices may gain a competitive edge. Conversely, smaller businesses with less flexibility might struggle to main their market position.”