August 7, 2019 — It’s been one year, so how’s that trade war with China working out for the nation’s seafood industry?
As with farmers, there’s not much winning, and ongoing tweeted skirmishes have global fish markets skittish.
The quick take is the 25 percent retaliatory tariff imposed by China on US imports last July caused a 36 percent drop in US seafood sales, valued at $340 million, according to an in-depth analysis of Chinese customs data by Undercurrent News.
“Chinese imports of US seafood fell from $1.3 billion in the 12 months prior to tariffs (July 1, 2017-June 30, 2018), to $969m in the twelve months after (July 1, 2018-June 30, 2019), underlining the heavy impact of weaker demand for US seafood subject to tariffs, while poor catch of US wild-caught seafood was also to blame,” the News wrote.