Editors recap: US buying from China grinds to halt; Canadian firm buys $100m US lobster supplier
Tom Seaman, editorial director of Undercurrent News, brings you a roundup of the main stories from the previous week.
Due to the uncertainty around possible tariffs on seafood from Donald Trump's administration, buying from China has pretty much ground to a halt, sources told our Louis Harkell, during Seafood Expo Asia in Hong Kong, China last week.
Louis was on hand to get viewpoints from multiple companies at the show, creating a pretty bleak picture of the current situation. The US Trade Representative could any day enact the tariffs it proposed on a 205-page list of Chinese imported goods estimated to be worth more than a combined $200 billion, including multiple seafood items, such as re-processed salmon and tuna as well as red swimming crab.
The tariffs were earlier predicted to go into effect at the beginning of October. It remains unknown whether the administration will levy its initially-proposed 10% rate or the 25% rate it suggested later. On Friday, the Wall Street Journal reported there could be even more tariffs, although seafood has already mainly been covered.
Regardless, Chinese seafood company executives told Louis on the sidelines of the show that -- owing to the time it takes to process and make deliveries -- US buyers fear their shipments won't arrive in time and have stopped making orders.
In essence, the tariffs are already in effect, Leo Xie, sales director at Guangdong Evergreen Group, told Louis.
Dalian Athena, which processes wild salmon harvested in Al....