Editor-in-chief Tom Seaman brings you a roundup of the main stories from the previous week.
US president Donald Trump shook the globally interconnected seafood world on April 2, announcing a 10% general tariff and then much higher rates for some major supply countries, mostly in Asia. Undercurrent News' team in Asia, Europe and North America is live reporting on the fallout.
Two major seafood source nations for the US -- Chile and Ecuador -- escaped with relatively light tariffs, with their goods soon to face the baseline 10% rate. The 10% kicked in on Saturday for goods loaded after 12.01 am Eastern Daylight Time (EDT) that day. The full rate for countries hit harder comes in at 12.01 am EDT on April 9.
China has been hit with an additional 34% tariff on top of the additional 20% and, in some cases, such as frozen tilapia, 45%. In return, China hit back with an additional 34% tariff on US imports, but has clarified that this does not include raw materials for processing and re-export.
On Friday, Undercurrent reported that Indian and Southeast Asian shrimp suppliers are holding off on shipping pending US orders ahead of the first 10% tariff and the full level of nation-specific tariffs taking effect April 9.
Their logic: They want to re-negotiate and include at least part of the added cost in their charges.
After the first 10% on all countries, India will go to 26% on April 9, at 12:01 am, EDT, with Indonesia going to 32%, Vietnam 46% and Thailand 36%, based on the industry's understanding. The higher level will apply to goods shipped after 12:01 am EST on April 9 and includes the initial 10%, sources said.
Also on Friday, the US Customs and Border Patrol clarified imports have until 12:01 am EDT on May 27 to arrive in the US to avoid getting hit with the 10% tariff.
Undercurrent also used its trade portal tool to determine the impact on the top 10 US seafood importers and visualize the data in charts.
Then, finally, a date was set for harvesters in the biggest part of the world's largest snow crab fishery, in the Canadian province of Newfoundland and Labrador (NL), to begin setting traps: 6 am local time on Thursday, April 10. A starting dock price for snow crab in the NL fishery will also be revealed by April 10 or sooner.
Click below for links to all the most-read stories from last week.
- Trump tariffs fallout: China’s retaliation doesn't cover US raw materials imported for processing, re-export
- Trump tariffs: Chile, Ecuador get off lightly while other major US seafood suppliers hit hard
- Canada sets opening dates for Newfoundland crab fishery
- Newfoundland snow crab dock prices close to settled
- US customs alert: Imports have until May 27 to arrive to avoid Trump's 10% tariffs
- In charts: How top 10 US seafood suppliers are impacted by bombshell tariffs
- Report singles out US' biggest seafood-source nations for trade barriers on eve of Trump tariffs
- China retaliates with 34% tariff on US goods amid escalating trade war
- Canadian seafood industry faces fallout from Chinese tariffs, braces for US' 'Liberation Day'
- Asian shrimp packers hold off shipping US orders as first 10% tariff kicks in Saturday
Contact the author tom.seaman@undercurrentnews.com
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