Trade Tensions Ignite as Canada and China Hit Back at US Tariffs

Canada and China have announced retaliatory tariffs in response to new US tariffs that went into effect today, igniting trade tensions between the world’s largest economies. After a 30-day pause, the US administration imposed a broad 25% tariff on Canada and Mexico on March 4, Expana's Ryan Doyle reported.

One minute past midnight, the US administration imposed 25% tariffs on Canadian exports and 10% tariffs on Canadian energy. Prime Minister Justin Trudeau said the decision had “no justification” and emphasized Canada’s efforts to combat...

‘The Tariffs Are All Set’: Trump Imposes 25% Tariffs on Canada and Mexico

It’s official. The US will implement a broad 25% tariff on Canada and Mexico on March 4. Trump also noted that he would add another 10% tariff on Chinese goods, on top of the initial 10% tariff he placed on the country in February.

“No room left for Mexico or Canada (to make a deal),” Trump told reporters at the White House. “The tariffs are all set. They go into effect tomorrow.

Trump said the neighboring countries had no chance for a last-minute deal that would...

Mowi Launches Strategic Review of Feed Division

Mowi has announced the initiation of a strategic review of its integrated feed division, evaluating all potential options, including a possible sale.

The feed division generated operating revenues of €1.1 billion in 2024, with an operational EBITDA of €62 million. It operates aqua feed plants in Norway and Scotland, and has a combined production capacity of 700,000 tonnes. These facilities supplied nearly all of Mowi’s European salmon farming operations' feed requirements last year. The division currently employs 140 full-time equivalents.

Japan: January Frozen Sockeye Imports Increased 40% While Bluefin Tuna Fillet Volume Doubled

According to trade statistics released by the Ministry of Finance on February 27, Japan’s January fishery product imports (including preliminary figures, fish and shellfish and their preparations, fishmeal, and seaweed) increased 5% from last year, amounting to 181,946 tons. The following species exceeded their import levels from January 2023: fresh and chilled tuna, salmon, trout, herring, octopus, and sea urchin. According to Minato Shimbun, Japan’s total import value reached 184.04 billion yen ($1.22 billion), which marks an increase of 19% compared to same time last year...

Troticoltura Cherubini Achieves Friend of the Sea Certification for Sustainable Aquaculture

Friend of the Sea is thrilled to announce that Troticoltura Cherubini, a historic company from the Marche region in Visso (MC) in the Monti Sibillini National Park, has obtained the prestigious Friend of the Sea certification. This recognition confirms the company’s unwavering commitment to sustainability, food safety, and quality.

Founded in 1950, Troticoltura Cherubini is a beacon in Italian aquaculture. The company stands out for its innovative and sustainable approach, based on a short and closed supply chain that guarantees high quality and traceability standards. Among the most appreciated...

Crescent City Seafoods Officially Launches, Bringing Decades of Industry Expertise

Crescent City Seafoods (CCS), DBA of CMU & Associates, Inc., announced its official launch on March 3. Founded in 2024, the company will provide frozen seafood items to businesses in the US and around the globe.

The announcement comes directly from CMU & Associates, Inc., Founder and Chairman, Charlie Umamoto, who stated, “We are extremely pleased to be partnering with Ricardo A. Baeza (CEO), Francisco J. Baeza (CFO), and Eddie Corvalan (Managing Partner) of South Pacific Fish SL and MCS Mediterranean SA as well as Butch Vidrine in introducing a new...

Oregon Considers Following in Washington’s Footsteps with Aquaculture Legislation

The Oregon Legislature is considering a bill that would ban open water finfish aquaculture, a move some say is a preemptive strike based on Washington’s ban last year. 

House Bill 2965 sets requirements for raising fish as food for humans and creates a related fund for managing those efforts.  

The bill is sponsored by Rep. Mark Gamba, a Democrat from the Portland metropolitan area and co-sponsored by other Democrats. The first hearing on the bill was held on Wednesday this week, in the Committee on Agriculture, Land Use...

Japan’s 2024 Alaska Pollock Exports Dipped in Most Countries While Doubling in Nigeria

Since 2019, 100% of fresh Alaska pollock exported from Japan has been destined for South Korea, while frozen pollock is targeted at Asian countries and parts of Africa due to the prolonged Chinese embargo. Still, due to resource constraints, it has not been possible to ensure a sufficient supply. Last year, the combined export volume was 5,868 tons, halved from the previous year, which marks the lowest it has been in recent years, reported Minato Shimbun.

Since 2019, fresh pollock has been destined exclusively for South Korea...

Grieg Seafood Completes Successful Placement of Perpetual Green Hybrid Bond

On February 27, 2025, British Columbian (B.C.) salmon farmer Grieg Seafood ASA announced the successful placement of a new perpetual green hybrid bond issue of NOK 2 million ($177.6 million) with a first call date after four years.

Bond details

Proceeds for the bond—which has a coupon, or interest rate, of three months at a Norwegian Inter-Bank Offer Rate (NIBOR) of 5.75%—will go towards financing Grieg’s green projects, as further defined by the Green Bond Framework.

Among its financial activities will be the refinancing of existing...

Mexico’s Modest Role in US Seafood Trade: Limited Impact of a 25% Tariff

President Donald Trump’s tariffs on Canada, Mexico, and China took effect at midnight, prompting swift retaliation. China and Canada quickly imposed tariffs on U.S. products, while Mexico’s president announced that countermeasures would be detailed on Sunday, according to Expana.

The most significant tariff impacts for the U.S. seafood industry will stem from trade with China and Canada, while Mexico’s measures are unlikely to cause major disruptions.

Mexico is a relatively minor player in the U.S. seafood market, ranking only 10th among suppliers and accounting for just 3.32%...

Senator Cassidy Urges Treasury to Block Funding for Foreign Shrimp Farms

The Southern Shrimp Alliance (SSA), an organization representing the domestic shrimp industry, commended a recent letter from US Senator Bill Cassidy (R-LA), who called on Treasury Secretary Scott Bessent to block taxpayer dollars from financing foreign shrimp aquaculture projects.

Cassidy, a senior member of the Senate Finance Committee, urged the Treasury Department to “take all necessary actions to prevent any future funding of shrimp aquaculture development, which would exacerbate the financial crisis facing U.S. shrimpers.”

According to the letter, Ecuadorian shrimp producers and exporters...

Russian Krill Fishing in Antarctica Threatened By Marine Protected Areas

Russia may face serious problems with krill fishing in Antarctica due to attempts of several countries to create marine protected areas in the region, which could alter or even halt Antarctic krill fishing.

This has been earlier confirmed by Vasily Sokolov, deputy head of Rosrybolovstvo,  there are serious technological and political issues that limit krill fisheries in Antarctica for Russian fishermen, which resumed their krill catch after a long pause.

As he said, several countries are trying, "to kill the krill fishery."

Vasily Sokolov commented...

Mass Firings at NOAA Spark Outrage Among Fishery Scientists

Yesterday 880 employees of the National Oceanic and Atmospheric Administration (NOAA), including those working for NOAA Fisheries, received their pink slips as part of the Trump administration’s effort to make the federal bureaucracy more efficient. 

NOAA, part of the Department of Commerce, is the latest in a string of federal agencies targeted for cuts by billionaire Elon Musk’s Department of Government Efficiency (DOGE).

“The firings jeopardize our ability to forecast and respond to extreme weather events like hurricanes, wildfires, and floods—putting communities in harm’s way,” said U.S. Senator Maria Cantwell...

Maine Fishermen's Forum Honors US Coast Guard, District 1, for Heroic 2024 Rescue

Rockport, ME – During a special ceremony at the 2025 Maine Fishermen’s Forum, the U.S. Coast Guard, District 1, was honored for its heroic rescue of the crew of the Maine fishing vessel Three Girls.

On Sunday, August 11, 2024, the Three Girls issued a Mayday distress call: “United States Coast Guard, this is the fishing vessel Three Girls. We are on fire. We are going to be abandoning ship.” The First Coast Guard District command center in Boston also received an Emergency Position-Indicating Radio Beacon alert...

ANALYSIS: Positive Trends in 2025 Illex Squid Fishing Season

Market participants have noted that landings for the illex squid (Illex argentinus) 2025 fishing season have been satisfactory compared to last year. Fishing began on January 2, 2025 in the Argentine Exclusive Economic Zone (EEZ) with nearly two months of fishing in the books.  According to Argentina’s Ministry of Agriculture, Livestock, and Fisheries, the total illex squid catch in Argentina reached 154,565 metric tons (MT) in 2024, reflecting an increase of 1,281 MT from the previous year. This volume indicates an 18% increase over the 10-year average harvest... 

Japan: January Exports up 54% in Volume, 26% in Value; Frozen Scallop Exports Doubled to US

According to trade statistics released by the Ministry of Finance on February 27, January fishery product exports (including fishmeal and fish and shellfish products) increased 54% in volume and 26% in value compared to the same month last year, amounting to 25,321 tons and 20,396 million yen ($135.42 million). Frozen scallop adductors increased in both volume and value. Frozen yellowtail fillets increased as well.

Minato Shinbun reported that, of the frozen scallops, scallop adductors increased 46%, amounting to 1,104 tons, and 2.4 times in...

Iceland Seafood Int’l Releases Positive Q4 Financial Results, Exceeding 2024 Outlook

On February 26, 2025, Iceland Seafood International (ISI) published its fourth quarter financial results for 2024, reflecting overall success in sales for Q4 and the year as a whole.

The seafood company saw a lot of increases in 2024, with sales soaring 16% in Q4 2024, amounting to €129.2 million more than the same period last year. Meanwhile, sales for the year increased by 3% compared to 2023, amounting to a total of €443.2 million.

Net margin was also up this year, amounting to...