A temporary suspension of tariff increases and a commitment to continued trade negotiations are welcome developments. Seafood exports to China and seafood imports from China both play and important role in growing and maintaining U.S. jobs. The growing middle class in China is an important export market for U.S. seafood products. At the same time, raw material from China fuels production of finished seafood products here. When it comes to seafood, the relationship between the U.S. and China has historically been symbiotic. Tariffs damage that partnership.
Certainty in supply is key to the seafood community on both sides. Even a pause in trade hostilities can help return a degree of confidence to the market. The latest assurance from the Administration that both sides are actively engaged in working towards a solution is beneficial to managing, maintaining and growing seafood businesses. Whether it's imports or exports the jobs impacted are here in the U.S.
NFI is pleased with this progress but would additionally like to have seen a commitment from China to pause or reduce the 25% tariffs they have already placed on U.S. seafood exports. We’re hopeful these latest developments will lead to a long term solution.
National Fisheries Institute
Source: National Fisheries Institute