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Sun Aug 11, 2019, 01:57 PM

'We just can't compete with Canada right now': Tariffs drive down U.S. lobster exports to China by 4

https://www.pressherald.com/?p=3165147/comments/

At the start of last summer, the U.S. lobster industry was riding high, fueled by explosive growth in sales to a Chinese middle class that couldn’t seem to get enough of our tasty, lucky-color red symbol of wealth, status and success.

Then, in July, China slapped the U.S. lobster industry with a 25 percent tariff in the second round of the then-fledgling U.S.-China trade war. American dealers watched in dismay as China turned to Canada to satisfy its craving for lobster, which is the same species without the tariff-inflated price tag.

New trade data shows live lobster sales to China fell by 46.7 percent, or $82.1 million, in the 12 months following July 2018 – from $179 million in the year before the punitive tariff went into effect down to $93.8 million in the 12 months after the tariff.

“We just can’t compete with Canada right now on price,” said Hugh Reynolds, the owner of Greenhead Lobster in Stonington. “Between the tariff and the strong dollar, the China market is over and done for Maine, I’d say. Our China numbers are way down. I don’t know anybody selling there.”

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Reply 'We just can't compete with Canada right now': Tariffs drive down U.S. lobster exports to China by 4 (Original post)
jpak Aug 11 OP
Vinca Aug 11 #1
pangaia Aug 11 #2
mitch96 Aug 11 #3

Response to jpak (Original post)

Sun Aug 11, 2019, 02:00 PM

1. That explains why the grocery store was pretty much dumping lobsters a couple of weeks ago.

I never thought I'd see the day I could afford to have fresh lobster rolls for lunch at home. They were sooooooooo good.

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Response to Vinca (Reply #1)

Sun Aug 11, 2019, 02:04 PM

2. Here also. So THAT'S why !!

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Response to jpak (Original post)

Sun Aug 11, 2019, 02:51 PM

3. "Tariffs drive down U.S. lobster exports"

Same here down in So Fla...$7.99/lb.. cheaper than Fla Lobster...
m

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