New China Tariffs Don’t Include Additional Taxes on US Seafood Exports
The $60 billion in retaliatory tariffs announced by China this morning against US products don’t include seafood products, except for a single smoked salmon item.
The reason is that the $60 billion figure mostly raises tariffs to 25% on goods that had previously been part of the trade war tariffs, but at which China had only imposed a 15% or lower tariff.
Most US seafood products exported to China are either subject to a 25% tariff already, like lobsters and squid, or are exempt due to rules about reprocessing, which apply to pollock and salmon that is re-exported back to the US.
However, the escalation in the trade war has negative risks for the seafood industry beyond tariffs...
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