March 12, 2025 — The seafood industry has so far mostly avoided tariffs on imports amid the global trade war started by U.S. President Donald Trump.
Trump imposed 25 percent tariffs on imports of steel and aluminum from all countries with no exemption starting 12 March, and the European Union and Canada immediately retaliated with new tariffs of their own. Trump claimed the tariffs are being imposed as imports of steel and aluminum pose a “national security threat.”
March 11, 2025 — Container ports in the United States are seeing elevated cargo levels, according to the Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates. The report comes amid rising uncertainty over tariffs in the U.S., where President Donald Trump’s rapidly evolving trade policy has shaken up the shipping industry and sent a chill through markets.
NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said that uncertainty around tariffs, particularly those on goods from China, is leading retailers to rush their imports into the country.
March 10, 2025 — New tariffs on Chinese goods introduced by the administration of U.S. President Donald Trump are causing havoc for Chinese seafood exporters, according to Landy Chow, the marketing manager of seafood import/export firm Siam Canadian.
Chow, who is based in China, told SeafoodSource that the impact of the new tariffs could be devastating for processors of breaded shrimp products exported from China to the U.S. – a seafood category in which China dominated prior to the imposition of 25 percent tariffs during the first Trump administration.
March 10, 2025 — Overall U.S. retail and grocery sales fell slightly month-over-month in February as consumer concern about tariffs and food inflation tightened spending, but despite the drop sales still increased year-over-year, according to new data.
Sales at grocery and beverage stores fell 0.07 percent from January to February, but soared 4.08 percent year over year unadjusted, according to the National Retail Federation’s CNBC/NRF Retail Monitor. Total retail sales, excluding automobiles and gasoline, also declined 0.22 percent seasonally adjusted in February, but inclined 3.38 percent unadjusted year over year.
March 8, 2025 — U.S. President Donald Trump suspended planned 25 percent tariffs on Canada on 6 March, building on an earlier-announced suspension of tariffs on Mexico.
Trump first announced plans to implement tariffs on Mexican and Canadian goods in November 2024, and followed through on the promise in February 2025. Since that initial order, Trump delayed tariffs by one month, before letting them take effect for just two days before the newest delay.
March 6, 2025 — U.S. President Donald Trump announced in a post on his Truth Social social media platform that he has agreed to delay 25 percent tariffs on Mexican goods for another month.
The move comes just two days after the Trump administration implemented 25 percent tariffs on Mexico and Canada, along with an additional 10 percent tariff on China on 4 March. Those tariffs were themselves implemented after a one-month delay from the original order in early February.
March 6, 2025 — The Maine Sea Grant program, which saw its funding pulled by the U.S. federal government, has regained its funding after an outcry from the industry and the state’s congressional delegation.
The administration of U.S. President Donald Trump killed the funding for Maine Sea Grant – a partnership between the federal government and the U.S. state of Maine overseen by the University of Maine system – on 28 February. According to the university, in 2023, the program converted USD 1.5 million (EUR 1.4 million) in federal funding into USD 23.5 million (EUR 21.7 million) in economic benefits for the state.
March 5, 2025 — U.S. President Donald Trump instituted an additional 10 percent tariff on Chinese goods on 4 March, following the 10 percent he announced in February, meaning certain goods from China are now subject to a 45 percent import tariff.
The tariffs are causing uncertainty for Chinese seafood firms attempting to find or expand their U.S. customer base, some of which are making the trip from China to the upcoming Seafood Expo North America, which is taking place in Boston, Massachusetts, U.S.A., from 16 to 18 March.
March 4, 2025 — U.S. President Donald Trump followed through on his original order to institute 25 percent tariffs on Canada and Mexico, launching tariffs on goods from both countries on 4 March after a one-month pause.
In addition to the 25 percent tariffs on Canada and Mexico, Trump also instituted an additional 10 percent tariff on Chinese goods on top of the 10 percent he announced in February, meaning certain goods from China are now subject to a 45 percent import tariff.
February 28, 2025 — President Trump’s executive order on offshore wind continues to have impacts, with a parent company of SouthCoast Wind this week announcing to investors a more than $260 million reduction in the value of its North American portfolio, which includes three U.S. offshore wind projects. The action reflects the company’s assumption that the Trump administration may cause years of delays in offshore development.
In simple terms, the value of an offshore wind farm hinges on two factors: what the expected revenue will be, and when that revenue is expected to start coming in. Delays to when an offshore wind project comes online and starts generating electricity mean delayed revenue, which makes the asset worth less at present. That’s why the company announced the reduction in value, also known as an “impairment” or “write down.”
The parent company, EDP Renewables, told investors it assumed a four-year delay under the new administration as a worst-case scenario. However, this does not mean the project is adopting a four-year delay, as another news outlet erroneously reported. SouthCoast Wind plans to move forward to the degree it can, including finalizing an agreement (known as a power purchase agreement or PPA) at the end of March with Massachusetts to purchase the project’s power.