SaysWho? Posted July 17, 2018 Share Posted July 17, 2018 https://www.adn.com/business-economy/2018/07/16/heres-how-the-trade-war-with-china-is-affecting-the-outlook-for-alaskas-seafood-industry/ Quote China is Alaska's biggest seafood buyer, purchasing 54 percent of Alaska seafood exports last year valued at $1.3 billion. On July 6, a 25 percent tariff went into effect on U.S. imports to China, including all Alaska salmon, pollock, cod, herring, flatfish, dungeness crab, sablefish, geoduck clams and more. Then on July 11 Trump added a 10 percent tariff on all seafood sent from China to the U.S. Quote It will hit 70 percent of imports of frozen cod fillets. Likewise, 23 percent of all frozen salmon fillets come into the U.S. from China, including pink salmon that is reprocessed into salmon burgers and fillets. Trade data show that China represents 47 percent of U.S. breaded shrimp imports and 37 percent of frozen squid imports. China also supplies 20 percent of the U.S. frozen scallop market. Sackton said the economic hit will go far beyond the $275 million. "As sellers are forced to raise prices, competitive products from other countries will follow suit, resulting in across the board seafood price increases. That will discourage seafood buying so sellers will lose business as customers back away," he added. Quote In recent years, Alaska seafood sales to China have increased by millions of dollars through eCommerce activity, said Hannah Lindoff, international program director for the Alaska Seafood Marketing Institute. Lindhoff said ASMI will try to expand sales to other markets, such as Brazil, Spain and Ukraine. But, as Sackton points out, it is more expensive to mount campaigns in multiple countries than in a single large market like China. ASMI operates on a shoestring international budget of less than $7 million a year, mostly from grants and federal dollars. Its overall budget is about $22 million, nearly all from processor taxes. Quote Link to comment Share on other sites More sharing options...
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