
China tariffs hit Maine lobster prices
Meanwhile, US shrimp fishermen want more tariff support amidst falling gulf shrimp prices.
Tariffs are heating up tensions in the seafood industry, but for different reasons in two sectors.
The Maine lobster sector is fearing the impact of China's 25 percent tariff on live lobster put in place last month by Beijing coupled with China's 7 percent tariff reduction for Canadian lobster, according to CBS news.
"There are no lobsters going to mainland China. They've stopped," said Lobster distributor Stephanie Nadeau, according to CBS news. "We have the identical product to Canada. My lobsters have a 25 percent tax, which, at a $2 (€1.71) difference, is an insurmountable difference." She and others worry over recuperating lost market share.
On the other hand, 200 Louisiana shrimp fishermen protested Wednesday wanting more political support for tariffs as concerns mount over plummeting gulf shrimp prices in the face of foreign imports, according to The Times Picayune.
Shrimp prices for the smaller sizes are about $0.40 (€0.34), down $0.20 (€0.17) year on year, a price shrimpers have not seen in 35 years, according to the news site.
Now fishermen say they will strike if prices are $0.30 (€0.26) when the season opens Monday. Some fishermen say tariffs help a bit, but a foreign import cap would be more beneficial in the long run, according to the news site.