September 2, 2020 — The U.S. International Trade Commission has embarked on an investigation into “possible negative effects” on the American lobster industry from Canada’s trade deal with the European Union.
The commission said it will investigate the overall economic impact of the Canada-European Union Comprehensive Economic and Trade Agreement on the volume of U.S. exports of lobster to the European Union and the United Kingdom.
That trade deal between Canada and the EU removed all tariffs on imported Canadian lobsters and gave Canada’s lobster suppliers a clear advantage in the EU market, where U.S. suppliers faced an 8% tariff on their lobsters.
Lobster fishing is based mostly in New England and is one of the region’s the most lucrative marine industries. Massachusetts is the biggest exporter of lobster, behind Maine. Gloucester is the Bay State’s top port when it comes to lobster landings, while Rockport is in the top five.