The Winding Glass: Heavy Lobster and Crab Tariffs Could Cripple the US; Canadian Seafood Industry
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Canadian lobster and crab industries face severe stress due to President-elect Trump’s threat to impose 25% tariffs across the board on all Canadian imports to the US.
Under the worst-case scenario, higher sale prices would cut demand to the extent that lobster and crab would be left in the water. For both exports, the Canadians have no replacement for the US market. To increase sales to China, Japan, and Europe, they would have to offer drastic price cuts...
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