November 22, 2017 — Maine lobster has become more valuable than any other single species commercially fished in the United States, but trade policies pursued by President Donald Trump could reduce its annual worth for the first time in nearly a decade.
Of the more than $600 million worth of North Atlantic lobster caught in the U.S. in 2016, nearly 90 percent, or $538 million, was harvested and brought ashore in Maine, according to a report on nationwide fisheries released this month by the National Oceanic and Atmospheric Administration.
No other single commercially fished species, even those harvested in multiple states, exceeded $500 million in landings in 2016 or in 2015, according to the report. Maine lobster first earned the most-valuable distinction in 2015, when $501 million worth of American lobster was harvested in the state, according to the Maine Department of Marine Resources.
The value of Maine’s lobster catch has risen every year since 2009. But it’s on track to drop for 2017, in part because of U.S. trade policies that put Maine’s lobster industry at a disadvantage to Canada in selling abroad.
Trump is pursuing efforts to renegotiate trade deals with Mexico, Canada, and South Korea, the fifth-largest importer of Maine lobster. He also pulled the U.S. out of the Trans-Pacific Partnership, a 12-nation free-trade agreement, and has talked tough on trade with Europe.