July 9, 2018 โ Veteran lobsterman Billy Mahoney is already feeling the pinch โ and not from the claws of his catch.
Mahoney sells his lobsters to a dealer in Massachusetts who, in turn, sells most of the product to an increasingly lobster-hungry China. The proposed tariffs between the U.S. and the worldโs second-largest economy have already lowered the price Mahoney gets for his lobsters by 50 cents a pound.
If the tariffs imposed imposed Friday by the Trump administration hit as hard as expected, Mahoney predicts, โAll hell is going to break loose as far as the price.โ Whatโs more, China will turn to Canada for New Englandโs ocean delicacy, he says.
A Harvard graduate who sets out from Nahant, Mahoney has been trapping Homarus americanus for more than 40 years. At 70, he says he is close to retirement, but he has a brother in the business as well as four cousins who are bound to suffer if the tariffs linger.
Maine and Massachusetts together landed almost $700 million worth of lobster last year, 94 percent of the nationโs total. At the same time, exports from Maine to China increased more than 30 percent, according to the National Oceanic and Atmospheric Administration.
But South Shore lobstermen, already hit hard by extended seasonal closures of their fishing grounds, might largely escape the latest blow to their industry.