Tariffs Restrict U.S. Aquaculture Industry, Increase Prices for Consumers

U.S. fishing and other aquaculture industries are being confronted with rising costs and diminished access to key markets because of tariffs. The result? From crustaceans to fish, American consumers face the prospect of higher prices and fewer options as trade uncertainty persists. U.S. businesses and workers stand to lose, as well, as orders and sales are already beginning to falter. The following stories illustrate how trade uncertainty is impacting U.S. aquaculture industries.

The Lobster Co

Arundel, Maine

A Maine-based Lobster harvester, The Lobster Co. was established in 1991 and exports lobster to markets across the globe.

Trade Disputes Lead to Lost Customers

"Stephanie Nadeau, president of The Lobster Co. in Arundel, Maine, counts on China for more than 30% of her $30 million in annual sales, and orders have stalled since tariffs took effect. 'There is no magic I could do to sell lobsters against Canadians that aren't getting taxed at 25%,' said Ms. Nadeu, who said lobsters destined for overseas markets are now sitting in tanks."

Wall Street Journal - 08/09/18

Slade Gorton & Co

Boston, Massachusetts

Founded in 1928, Slade Gorton & Co is a privately held, multi-generational family business and is one of America’s largest importers, distributors and manufacturers of fresh, frozen and premium value-added seafood products.

Tariffs’ Higher Prices Affecting Supply Chains

"'Being able to pass along 25 cents to 50 cents a pound are real costs,' said Kim Gorton, chief executive of Slade Gorton & Co., referring to potential wholesale-price increases. The Boston-based company imports U.S.-caught cod, pollock and salmon after the fish have been processed in China. Some companies say they are contacting their Chinese suppliers to negotiate prices in case the tariffs come to pass."

Wall Street Journal - 08/09/18

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