May 13, 2025 — The U.S. and China’s recent agreement to reduce tariffs has garnered mixed reactions from the seafood and retail industries.
In a joint statement, both the U.S. and China agreed to modify duties the two countries had placed on goods from the other country on 12 May for 90 days. Effective 14 May, both countries will reduce tariff rates by 115 percent as the two continue discussions about economic and trade relations.
May 13, 2025 — Antwerp, Belgium-based food-processing machinery firm Steen said that recent trade disruptions stemming from U.S. tariffs have caused some of their American buyers to hold off on new deals.
“After the tariffs were announced, some people who [verbally] committed to buying from us said they were, instead, going to hold off and see how things play out,” Steen International Sales Manager Laurenz Seesing told SeafoodSource at the 2025 Seafood Expo Global. “I think we can expect a latency or a delay rather than full cancellations because, eventually, companies will need to buy machinery, and most of the [processing machinery] stuff is produced in Europe.”
May 8, 2025 — U.S. President Donald Trump’s trade war has sent seafood companies scrambling to move production and secure new trade partners as they desperately seek to avoid the brunt of new tariffs.
“We’re living in a brave new world,” Matthew Latimer, managing director and general counsel of ACT Capital Advisors, said during a panel at Seafood Expo Global, which took place from 6 to 8 May in Barcelona Spain. “The recent round of trade restrictions and tariffs that were announced in the United States have triggered a scramble among seafood suppliers and distributors and wholesalers and retailers to constantly adapt – maybe on a daily basis – to an ever-changing trade environment. Geopolitical conflicts have disrupted supply chains, consumptions trends, and human lives, and then economic and environmental and regulatory changes have put pressure on operators to deliver sustainable, high quality, desirable products, all while navigating increased market complexity.”
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May 7, 2025 — U.S. tariffs are putting “enormous pressure” on independent restaurants, food producers, and the entire food supply chain, according to Independent Restaurant Coalition (IRC) Executive Director Erika Polmar.
“Unless something changes, the entire food supply chain – from field to kitchen to table – is at risk,” she said in a recent update to the coalition’s members.
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May 7, 2025 — Dominion Energy expects to pay more to complete the Coastal Virginia Offshore Wind project because of the Trump administration’s new taxes on imported goods including monopile foundations and turbine towers.
The $10.8 billion offshore wind farm about 30 miles off the Virginia Beach coast will be the nation’s largest, consisting of 176 turbines that generate about 2.6 gigawatts of electricity, or enough to power up to 660,000 homes.
Dominion CEO Bob Blue told investors last week that if current tariffs continue through construction of the project late next year, the utility would expect about $500 million in added costs.
“Of course, changes to future tariff policy could affect these estimates,” he said. “It’s difficult to fully assess the impact tariffs may have to the project’s final cost, as actual costs incurred are dependent upon the tariff requirements and rates, if any, at the time of delivery of the specific component.”
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.
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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 — Though most Canadian goods have been spared from the steepest of U.S. President Donald Trump’s tariffs, Jason McLinton, who recently became president of the Fisheries Council of Canada (FCC), said the reprieve was no cause for celebration.
“There’s uncertainty, and business does not do well with uncertainty,” he said.
Read the full story at SeafoodSource