May 12, 2025 — The U.S. and China released a joint statement on 12 May indicating the two countries would suspend most tariffs for 90 days and agree to continue discussions about their economic and trade relations.
In a joint statement, the U.S. agreed to modify its duties on China, effectively reducing tariffs on Chinese goods to 30 percent by 14 May. In return, China will also suspend its tariffs, reducing the tariff rate to 10 percent as of 14 May.
May 9, 2025 — The U.S. Senate Committee on Commerce, Science and Transportation unanimously passed a seafood bill on April 30 to fight illegal fishing. The legislation would rely on efforts from the National Oceanic and Atmospheric Administration, which Sen. Dan Sullivan said is already struggling to complete key fisheries surveys.
Sullivan co-sponsored the Fighting Foreign Illegal Seafood Harvest, or FISH, Act with seven other senators, including Republican Sen. Lisa Murkowski. Sullivan said he hopes it will help fight unfair trade practices and give a boost to Alaska’s fishing industry.
Sullivan said the act takes aim at foreign illegal, unreported and unregulated, or IUU, fishing.
“It would blacklist foreign vessels and owners that have engaged in IUU fishing — it’s mostly Chinese,” Sullivan said. “And it would provide much more enforcement with regard to our Coast Guard’s ability to increase at-sea inspections.”
Any blacklisted vessels would be prohibited from accessing U.S. ports, traveling through U.S. territorial seas, except in accordance with customary international law, making deliveries in U.S. waters, or receiving services from American vessels.
May 2, 2025 — As the U.S. begins imposing new tariffs on the global shipping market, many logistics industry stakeholders are still struggling to understand how the tariffs, and other related trade and maritime programs meant to boost U.S. industries – such as fees on “Chinese-owned” vessels or fleets – could affect their businesses.
Amid the confusion, a bipartisan group of U.S. lawmakers have teamed up to reintroduce the SHIPS for America Act, which aims to revitalize the U.S. shipbuilding and commercial maritime industries.
May 1, 2025 — The U.S. shipping and logistics industry is beginning to feel the effect of the Trump administration’s tariffs on Chinese imports, and experts are warning U.S. consumers that they will soon start to see changes themselves.
Investors Observer, an investment trade publication, analyzed the U.S. states that are most and least reliant on Chinese imports in order predict the economic fallout of tariffs.
April 30, 2025 — In the wake of sweeping tariffs ordered by U.S. President Donald Trump, Walmart and Target told some Chinese suppliers to resume shipments to the U.S. after executives met with U.S. President Donald Trump last week – and major grocery chain Albertsons told suppliers it won’t accept tariff-related price hikes.
Two Chinese factories told CNN that Walmart and Target have resumed shipments, and the costs of the 145 percent import tariffs will be covered by the retailers, according to the South China Morning Post. Trump indicated that he may back off tariffs on China after CEOs from Walmart, Target, and Home Depot expressed their concerns.
Read the full story at SeafoodSource
April 24, 2025 — In Conch Key, Kelly Cordova’s crews are getting traps ready for lobster season.
She’s been on the water her whole life.
“This is our family’s business,” said Cordova. “My mom and dad started when they were 15.”
But even as the Trump administration softens its tone on China tariffs, there’s still uncertainty over the possibility of reciprocal tariffs tacked on to the live lobster they export.
“We don’t know what we’re going to do. It’s really, really scary right now,” said Cordova.
Spiny lobster is a multi-million dollar industry in Florida and the Florida Keys are the biggest producer, harvesting nearly 4 million pounds last season.
April 24, 2025 — China and the Philippines have again accused each other of acting dangerously in the South China Sea, where the two nations continue to dispute important fishing grounds.
On 14 April, a Chinese Coast Guard (CCG) vessel sped up to cut off Philippines Coast Guard vessel BRP Cabra, which was patrolling near the disputed Scarborough Shoal in waters within the Philippines’ own exclusive economic zone. According to the Philippine government, China’s coast guard has been conducting illegal patrols in those waters to discourage Filipino fishers.
April 16, 2025 — Considering the U.S.’s launch of a global trade war and U.S. President Donald Trump’s disdain for international collaboration, experts are warning that the U.S. may soon leave the World Trade Organization (WTO), a move that could render trade rules unenforceable among developing economies and throw global trade further into chaos.
“We should not preclude a prospect where the U.S. will leave the WTO in the coming 18 months,” said Hosuk Lee-Makiyama, the director of the European Center for International Political Economy (ECIPE) and a former Swedish trade expert in WTO affairs. “On one hand, the U.S. outside of the system is a much better option than China being expelled and unhinged outside the system. On the other hand, the U.S. trade deficit is financing a lot of export-led growth around the world. Without that market access underwriting WTO rules, there would be no incentives for compliance among emerging markets.”
April 11, 2025 — Both the United States and China have set tariffs of 125 percent on goods from the other nation after just over a week of back-and-forth increases.
China’s Ministry of Finance announced on 11 April it is imposing tariffs on imported goods from the U.S. of 125 percent, up from the 84 percent it announced just days before. That amount is in response to U.S. President Donald Trump’s escalation of tariffs, which at first were increased to 54 percent, then bumped up again to 104 percent, before finally being increased to 125 percent as Trump announced a 90-day pause on tariffs for most other countries.
April 9, 2025 — U.S. President Donald Trump has announced a 90-day pause on tariffs for most countries targeted by his “reciprocal” tariff action but raised tariffs on Chinese exports to 125 percent after the country promised retaliatory tariffs of its own.
Both China and Europe have announced retaliatory tariffs on goods from the U.S. as sweeping tariffs announced on 2 April by U.S. President Donald Trump were set to take effect on 9 April.