March 11, 2025 — Industry groups are pushing Canada’s government to engage diplomatically before tariffs decimate seafood companies
China recently announced 25 percent tariffs on Canadian seafood species – set to go into effect on 20 March – and leaders in the industry are anticipating a huge impact for multiple species.
March 10, 2025 — New tariffs on Chinese goods introduced by the administration of U.S. President Donald Trump are causing havoc for Chinese seafood exporters, according to Landy Chow, the marketing manager of seafood import/export firm Siam Canadian.
Chow, who is based in China, told SeafoodSource that the impact of the new tariffs could be devastating for processors of breaded shrimp products exported from China to the U.S. – a seafood category in which China dominated prior to the imposition of 25 percent tariffs during the first Trump administration.
March 10, 2025 — The government of China announced it is imposing 25 percent tariffs on an array of seafood items from Canada, in what it said was a response to Canadian tariffs on certain goods from China.
China’s Ministry of Finance announced the new tariffs on 8 March, and said the new tariffs are in response to a 100 percent tariff on electric vehicles and a 25 percent tariff on steel and aluminum products from China. Canada announced the set of tariffs in October 2024, and said it plans to tariff a range of goods including rapeseed oil, pork, and seafood.
March 10, 2025 — Overall U.S. retail and grocery sales fell slightly month-over-month in February as consumer concern about tariffs and food inflation tightened spending, but despite the drop sales still increased year-over-year, according to new data.
Sales at grocery and beverage stores fell 0.07 percent from January to February, but soared 4.08 percent year over year unadjusted, according to the National Retail Federation’s CNBC/NRF Retail Monitor. Total retail sales, excluding automobiles and gasoline, also declined 0.22 percent seasonally adjusted in February, but inclined 3.38 percent unadjusted year over year.
March 8, 2025 — U.S. President Donald Trump suspended planned 25 percent tariffs on Canada on 6 March, building on an earlier-announced suspension of tariffs on Mexico.
Trump first announced plans to implement tariffs on Mexican and Canadian goods in November 2024, and followed through on the promise in February 2025. Since that initial order, Trump delayed tariffs by one month, before letting them take effect for just two days before the newest delay.
March 6, 2025 — U.S. President Donald Trump announced in a post on his Truth Social social media platform that he has agreed to delay 25 percent tariffs on Mexican goods for another month.
The move comes just two days after the Trump administration implemented 25 percent tariffs on Mexico and Canada, along with an additional 10 percent tariff on China on 4 March. Those tariffs were themselves implemented after a one-month delay from the original order in early February.
March 5, 2025 — U.S. President Donald Trump instituted an additional 10 percent tariff on Chinese goods on 4 March, following the 10 percent he announced in February, meaning certain goods from China are now subject to a 45 percent import tariff.
The tariffs are causing uncertainty for Chinese seafood firms attempting to find or expand their U.S. customer base, some of which are making the trip from China to the upcoming Seafood Expo North America, which is taking place in Boston, Massachusetts, U.S.A., from 16 to 18 March.
March 4, 2025 — U.S. President Donald Trump followed through on his original order to institute 25 percent tariffs on Canada and Mexico, launching tariffs on goods from both countries on 4 March after a one-month pause.
In addition to the 25 percent tariffs on Canada and Mexico, Trump also instituted an additional 10 percent tariff on Chinese goods on top of the 10 percent he announced in February, meaning certain goods from China are now subject to a 45 percent import tariff.
February 14, 2025 — U.S. president Donald Trump announced that he would impose reciprocal tariffs on the nation’s trading partners on 13 February, prompting numerous trade experts to predict higher prices for American consumers.
Shortly after Trump announced the measures, Capital Economics, a global financial analytics firm, told the New York Times that it “predicts that the effective tariff rate on all U.S. imports could rise from less than 3 percent now to around 20 percent.” The effective tariff rate is the percentage of the price of imported goods that goes toward paying tariffs.
December 13, 2024 — The incoming administration of President-elect Donald Trump is likely to bring big changes for one of the oldest sectors of the U.S. economy — seafood — and some in the industry believe the returning president will be more responsive to its needs.
Economic analysts paint a more complicated picture, as they fear Trump’s pending trade hostilities with major trading partners Canada and China could make an already pricy kind of protein more expensive to consumers. Conservationists also fear Trump’s emphasis on government deregulation could jeopardize fish stocks that are already in peril.