July 20, 2022 — The American fishing industry is caught in the middle of the ongoing trade war between the U.S. and China—hooked by tariffs imposed on both sides of the Pacific.
As a result, U.S. exports of seafood have fallen to their lowest levels in a decade. That’s in large part due to the tariffs that have made the industry “less competitive and less affordable,” according to a filing by the National Fisheries Institute, an industry group, to the International Trade Commission (USITC) ahead of a hearing scheduled to take place on Thursday.
When the Trump administration imposed those tariffs in 2018, lawmakers from states with large fishing industries sounded the alarm but were ignored. “It has clearly rattled my state,” Sen. Lisa Murkowski (R–Alaska) said in a 2018 Senate hearing exchange with then-U.S. Trade Representative Robert Lighthizer. “Our seafood industry is the number one private industry in terms of the jobs and the economic opportunity it brings.”
Tariffs on seafood have hit Alaska in particular, Alaska’s fishing industry generates over $5 billion dollars in economic activity and creates nearly 70,000 jobs in the state, making it a vital lifeline for the state. Over 40 percent of U.S.-caught Alaskan salmon and one-third of all seafood from Alaska is exported to China each year. Much of it is processed in China and then re-imported to the United States for sale in grocery stores.
Read the full article at Reason