Saving Seafood

Uncertainty surrounding US tariffs spurs rising import cargo levels

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.

Read the full article at SeafoodSource

US tariffs leave Chinese seafood exporters scrambling

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.

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US retail sales fall slightly amid tariff, inflation concerns

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.

Read the full article at SeafoodSource

Trump delays tariffs on swath of Canadian goods, including seafood

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.

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Trump delays tariffs on Mexico for a month after just two days in force

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.

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MAINE: Maine Sea Grant regains funding after industry, congressional pushback

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.

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US tariffs worry Chinese seafood exporters aiming to target American consumers

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.

Read the full article at SeafoodSource

Trump implements new tariffs on Canada, Mexico with both countries planning retaliation

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.

Read the full article at SeafoodSource

SouthCoast Wind’s value declines due to Trump’s opposition

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.

Read the full article at The New Bedford Light

Trump says 4 March start date for 25 percent tariffs on Canada, Mexico still on, plans an additional 10 percent tariff on China

February 27, 2025 — U.S. President Donald Trump clarified the start date of 25 percent tariffs on Canada and Mexico will be 4 March, after comments on 26 February suggested they could be delayed until April.

Trump posted on his social media platform Truth Social that the tariffs originally delayed on 4 February until 4 March will go forward as scheduled. Trump said the tariffs will go into place because “drugs are still pouring into our country from Mexico and Canada at very high and unacceptable levels.”

Read the full article at SeafoodSource