Saving Seafood

Deal announced to halt parallel tariffs between US and UK

June 18, 2021 — Just days after policymakers announced a five-year suspension of tariffs between the United States and European Union – winding down a decades-long trade conflict – officials announced a similar deal is being struck between the U.S. and United Kingdom.

The agreement is in regards to an ongoing civil aircraft dispute involving U.S.-based Boeing and E.U.-based Airbus. According to a release from the U.S. Trade Representative, the framework for a deal between the U.S. and U.K. is similar to that reached earlier this week with the E.U.

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ANALYSIS: Squid Imports Rapidly Diminishing Year-Over-Year

June 17, 2021 — Imported squid volumes, prior to 2019, typically trended at 160 million pounds of product entering the United States per year on average. This figure took a massive hit in 2019 when tariffs were implemented on product from China, the main supplying country of squid into the U.S. This resulted in a drop of about 33.3 million pounds from the country. Enter a global pandemic and imports continue to downtrend as 2020 brought in 99 million pounds of squid products, or 65 million pounds less than the previous historical average.

In looking at how 2021 is shaping up, with import information available through April 2021, the year-to-date totals are at least tracking steady or above the previous two years. However, they are falling about 10 million pounds below the typical year-to-date average of this time frame.

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National Fisheries Institute Statement on Suspension of UK Tariffs

June 17, 2021 — The following was released by the National Fisheries Institute:

Just days after the US and European Union (EU) officials announced plans to suspend tariffs on goods involved in the Boeing/Airbus trade dispute, policy makers are revealing a similar deal with the United Kingdom (UK.)

The decision to halt parallel tariffs on effected US and UK products, for five years, is an important move. It helps produce a more consistent climate for seafood companies to operate in. Stability and predictability, especially in export markets, are prized and contribute to market growth.

The National Fisheries Institute supports decisions, like these, that will increase opportunities for US seafood companies.

US-EU trade war winding down with five-year suspension of tariffs

June 16, 2021 — The United States and the European Union have resolved a trade dispute that had resulted in a ramping up of tariffs, including on some seafood products.

The quarrel, dating back to 2004, centered around subsidies for European airplane-maker Airbus and U.S. plane manufacturer Boeing. The dispute was brought before the World Trade Organization, which ruled in October 2020 that each side could impose billions of dollars in tariffs.

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Some Relief For Seafood Industry Thanks to Airbus-Boeing Deal

June 16, 2021 — On Tuesday the United States and European Union announced a cooperative framework to address the large civil aircraft disputes which have been raging since 2004. As part of the agreement, the U.S. and EU have agreed to move away from “past confrontation in pursuit of a cooperative future by suspending the tariffs related to this dispute for five years.”

“After years of bitter litigation and weeks of intense diplomacy, we have reached a deal on a set of high-level principles that resets U.S.-EU engagement in the large civil aircraft industry,” U.S. Trade Representative Katherine Tai said in a press release. “We are strongest when we work with our friends and allies, and the partnership with European Commission Executive Vice President Valdis Dombrovskis is a demonstration of that principle in action.”

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National Fisheries Institute Statement on Suspension of EU/US Tariffs

June 16, 2021 — The following was released by the National Fisheries Institute:

The National Fisheries Institute applauds the decision to suspend tariffs on goods involved in the Boeing/Airbus trade dispute. Today U.S. and European Union (EU) policy makers revealed plans to shelve the tariffs for five years as part of a new agreement.

This bilateral action is an important development that helps seafood companies operate in a more predictable climate. The EU is an important growth market for US seafood exporters, and they will benefit from this more stable environment.

Throughout this dispute seafood has been collateral damage, as fish swimming in the Atlantic Ocean could not be further from the planes flying overhead. Today’s announcement is welcome news.

USTR announces, then suspends, 25 percent tariffs on goods including seafood from multiple countries

June 3, 2021 — U.S. Trade Representative Katherine Tai announced, and then immediately suspended, new Section 301 tariffs on goods from multiple countries as part of its one-year investigation of digital service taxes (DSTs).

The new tariffs, which will be set at 25 percent if reinstated, are in response to taxes levied by Austria, India, Italy, Spain, Turkey, and the United Kingdom on revenue generated by “non-resident” companies offering digital services – including the sales of software-as-a-service products. The USTR investigation began in June 2020 and found the practices of the countries discriminatory in January.

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Lawsuit involving US seafood companies seeks to end, refund tariffs on Chinese goods

May 26, 2021 — A lawsuit filed by a company specializing in vinyl flooring against the U.S. Section 301 tariffs on goods from China has led to a slew of other American companies following suit.

Norwalk, Connecticut, U.S.A.-based HMTX Industries and its affiliated companies filed a complaint at the U.S. Court of International Trade (CIT) in September 2020 that challenges the authority of former U.S. Trade Representative (USTR) Robert Lighthizer. The lawsuit focuses specifically on the “unlawful escalation” of the trade war “through the imposition of a third and fourth round of tariffs on products covered by so-called ‘List 3’ and ‘List 4A,’” the lawsuit states.

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UK proposes new tariffs on US lobsters and other goods

May 26, 2021 — Lobsters, wine, and chocolate imported into the United Kingdom from the United States could face new tariffs under proposals from the U.K. government to rebalance the list of goods it targets as part of the ongoing trade conflict around steel and aluminum.

The administration of former U.S. President Donald Trump introduced 25 percent and 10 percent tariffs on steel and aluminum imports, citing national security concerns, prompting retaliatory measures from the European Union on goods such as motorcycles, whiskey, and tobacco.

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Pandemic accelerates major shifts in China’s seafood marketplace

April 27, 2021 — Long a proponent of sourcing more seafood from overseas, China’s central government has shifted its strategy in response to pressures related to COVID-19.

China continues to encourage seafood imports, which have long been seen as a means of dampening consumer price inflation. Recently, China reduced the tariff on frozen cod from 7 percent to 2 percent, while duties on ribbonfish, frozen crab, and frozen small shrimp were also reduced from 7 percent to 5 percent. The rate on live or fresh abalone imports dropped from 10 percent to 7 percent. The biggest cut was for “fertilized fish eggs,” which went from 12 to zero percent. Chinese import taxes for most seafood range from 5 percent to 7 percent, while VAT is charged at 9 percent.

Read the full story at Seafood Source