US lobster industry could lose its advantage on several markets
Maine Lobster Dealers Association (MLDA) is concerned about the impact that trade wars between the United States and several other countries or markets such as Canada, China and the European Union could have on the industry.
At the end of last week, MLDA has held a closed-door trade meeting with lawmakers from the state and with Deputy U.S. Trade Representative C.J. Mahoney in order to find solutions to a crisis that endangers the lobster industry of Maine worth $1.5 billion.
Lobster is Maine's highest-value export product, reaching $336 million in the last year but the new policies promoted by the White House could damage the whole industry as different trade wars could develop in the future. Also, the CETA trade deal, signed in 2017 between Canada and EU, is generating a real disadvantage for Maine's lobster exporters to EU, reports Seafood Source magazine.
"The 28-nation European Union accounts for approximately 20% of Maine’s lobster trade, yet access to this vital market is threatened by a recent trade agreement that has been negotiated between our neighbours to the north, Canada, and the European Union. This trade agreement puts Maine lobster at a huge competitive disadvantage, from 8% to 20%, depending on if we’re talking about fresh lobster or processed frozen lobster", admitted US Senator Susan Collins.
At the same time, retaliatory trade tariffs could be imposed on the lobster sold to Canada, Mexico, China and EU as the Trump administration is fueling the tensions with this partners. For now, China is the main market for lobster, in 2017, the value of exports reaching $128 million. A tariff imposed on the Chinese seafood, proposed by the current administration, could bring back retaliatory measures from Beijing. "The lobster industry is plagued by all kinds of concerns, whether it’s ocean warming, worries about declining in the catch, ocean acidification – they’ve got a lot on their plate. The last thing that they want to have to worry about is declining price because of competition or issues around the price.", explained U.S. Representative Chellie Pingree. One solution identified by the lawmakers consists in adding lobster products to the in ongoing U.S.-European Union talks about the beef trade.
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