May 13, 2020 — The coronavirus pandemic has decimated the seafood industry in the U.S. Following the widespread closure of restaurants and food service locations, many of the country’s fisheries have reported sales dropping as much as 95%. Thousands of commercial fishers are at risk of bankruptcy, The Washington Post reported.
Shortly after sales started to plummet, seafood companies — including Trident, Pacific Seafoods, High Liner, Cargill and Fortune International — wrote a letter to the Trump administration to ask for financial support. Although the industry anticipated the need for billions of dollars, the government only approved an aid package for $300 million at first.
Now the government is offering additional support with another $300 million in financial aid, as well as an attempt to bolster domestic production. Currently, domestic aquaculture production is either done on land or in state-controlled waters and is only a small portion of U.S. seafood. Aquaculture accounted for 20% of the country’s seafood production in 2016, according to NPR. The outlet reported that U.S. production is dwarfed by imports, which account for 90% of the country’s seafood consumption.