
Photo: Greta Rybus for The New York Times
We recently posted about concerns that the current Maine lobster boom may collapse in time due to climate change. The fishing industries in Maine and Alaska are facing a far more immediate challenge, however. New US tariffs on steel and aluminum and retaliatory tariffs on lobster imports by China could drive up costs and cut lobster exports while giving Canadian lobstermen an advantage. Likewise, retaliatory tariffs on salmon and other Alaskan seafood could seriously hurt their fishing industry.
As of July 6th, China will impose an additional 25% tariff on Maine lobster. China buys about a fifth of American lobster exports, valued at $137 million. The tariff is expected to give Canadian lobster exporters, who are not subject to the tariff, an advantage in the Chinese market.