Navigating the Trump Tariff Turbulence: A Comprehensive Timeline

US President Donald Trump and his administration have paused reciprocal tariffs on most countries.

“Based on the lack of respect that China has shown... I am hereby raising the [tariff] charged to China by the [USA] to 125%, effective immediately,” wrote Trump on Truth Social at 1:18 pm ET. 

It’s not clear if this 125% is in addition to the 20% imposed on Chinese imports to the US. In early March, Trump noted that he would add another 10% tariff on Chinese goods...

Hong Kong’s Ocean One Targets Aggressive China Growth After Import Ban Eases on Japanese Seafood

Hong Kong-based frozen seafood importer and wholesaler Ocean One announced that it will increase its cooperation with Chinese customers following China's resumption of seafood imports from Japan. The company stated that the move will involve “more aggressive market strategies to expand mainland business sales.”

The company views the reopening of many areas of Japan for seafood imports into China as a “significant opportunity” to both expand and enhance sales performance.

Ocean One’s China business accounted for 11.6% of its revenue, the second-largest share...

Trump Announces US-Indonesia Trade Agreement, Offers Few Details

President Donald Trump announced on Tuesday that the United States has reached a new trade agreement with Indonesia, a key agricultural partner. However, he provided few details about the scope or substance of the deal.

“Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President,” Trump said.

On July 7, Trump sent a letter to Indonesian President Prabowo Subianto stating that Indonesia would face a 32% tariff rate on all Indonesian goods imported into the US, as part of the initial wave of Trump tariff...

Canadian Seafood Escapes Trump’s 35% Tariff, According to Multiple Reports on USMCA Exemptions

Key Canadian seafood exports will be exempt from President Donald Trump’s newly imposed 35% tariff on Canadian goods, according to multiple reports from CBC, The Wall Street Journal and Yahoo Finance.

While Trump’s tariff announcement last week sparked uncertainty over whether critical species like salmon, crab and lobster would be affected, officials confirmed that products compliant with the United States-Mexico-Canada Agreement (USMCA) will remain tariff-free.

The question of whether seafood would be faced with a 35% tariff rate followed the release of Trump’s tariff...

Norway Has Replaced Russia in the US Crab Market; Russia Looks to Tag Back in

Norway has taken Russia’s place in the U.S. crab market, though Russia is hoping that possible restoration of economic relations with the U.S. will allow its crab fisherman to resume supplies to the U.S. market—once one of the most important for Russian crabbers—and thus compete with its Norwegian rivals.

Prior to 2022, the United States was one of the largest buyers of Russian crabs, accounting for almost half of Russian exports, some estimates indicate. While Asian countries mainly consume live Russian crab, which is supplied from the...

Tariff Talks 2025: Expana's Weekly Rundown #17

Expana’s global team of specialist reporters has been tracking every twist and turn in the fluid tariff situation.

Click to read "Tariff Talks 2025: Expana's Weekly Rundown #17."

This report allows the Expana community to see where key commodity markets stand as of this past week... Click the above PDF report, or keep scrolling to read in plain text...

This week, reciprocal tariffs were re-announced in the form of letters from the US Trump administration to trading partners who could not reach a trade deal within the previously granted 90-day pause...

Today’s Top Story: Tariffs, Dollar Slump and High Crab Prices Threaten Slowdown in Consumption

In Les Hodges’ monthly newsletter, he reports on U.S. seafood prices and supply chains entering a period of significant uncertainty as the Trump administration's new tariffs and a weakening dollar take hold. Unless agreements are reached, Hodges explains that tariffs on imported seafood are set to rise further starting July 8-9, reshaping the cost structure for importers and customers alike...

Tariff Talks 2025: Expana's Weekly Rundown #16

Expana’s global team of specialist reporters has been tracking every twist and turn in the fluid tariff situation.

Click to read "Tariff Talks 2025: Expana's Weekly Rundown #16."

This report allows the Expana community to see where key commodity markets stand as of this past week... Click the above PDF report, or keep scrolling to read in plain text...

Japan's Seafood Imports in May Decreased by 5% YOY in Volume and 3% YOY in Value

According to trade statistics released by the Ministry of Finance on June 27, Japan’s May seafood imports (with preliminary figures including fish and shellfish, their preparations, fish meal, and seaweed) decreased by 5% in volume from the same month last year, totaling 181,942 tons. In addition, the value of these imports decreased by 3% to 165.412 billion yen ($1.154 billion), as reported by Japanese news outlet Minato Shimbun.

Fresh and frozen tuna imports rose by 13% to 17,417 tons, including the following tuna...

Trump Announces US Trade Deal With Vietnam, Including 20% Import Tariff

President Trump announced that the United States has agreed to a new trade deal with Vietnam on July 2.

Trump stated that Vietnam will pay the US a 20% tariff on all goods exported to the U.S. and a 40% tariff on transshipped goods. The higher 40% tariff targets products that are not originally made in Vietnam but are routed through the country to bypass higher tariffs. This move is significant, as many countries have used Vietnam as a transit point to avoid stricter trade penalties aimed at Chinese...

Phillips Foods Opens Sales Office in Japan to Expand Crab Meat Sales 

Phillips Foods, a major crab and lobster processor based in Maryland, has opened a representative office in Tokyo. The company will promote products such as blue swimming crab meat and crab cakes to mass retailers and food services in Japan.  

Founded in 1914, Phillips Foods operates aquaculture and processing facilities in Southeast Asia and Canada. They handle various crab species, including snow crab, king crab, and blue swimming crab, along with lobster and barramundi. The company also produces processed items such...

Pacific Seafood Going Big on Alaska

Pacific Seafood Group is expanding its reach beyond the West Coast to Alaska through acquisitions and memberships.  

In 2024, Pacific purchased Kodiak processing facilities from Trident Seafoods, including the Star of Kodiak, a converted war-time ship that processes a number of species like pollock, salmon, halibut, crab, groundfish and Pacific cod. The purchases contribute to the company’s Mission 31, a strategic initiative aimed at doubling the size of its business by 2031. 

Now, Pacific has joined the Pacific Seafood Processors Association, a seafood processing trade group founded in 1914...

Summer Crab Season Rules Take Effect in Washington

Summer months mean new fishing seasons, warmer weather and, in the case of Dungeness crabbing on the West Coast, new rules.   

As whales become more prevalent and crabs begin to molt, the states implement more restrictive gear rules, time constraints, landing limits or permitting requirements. In Washington, that means the Coastal Dungeness Crab Summer Fishery Management Plan takes effect as of 12:01 a.m. on July 6, through the end of this year’s season.  

According to the plan, crabbers cannot possess or land more than 2,500...

Red Lobster Announces Return of Crabfest and New Seafood Boil Options

On June 23, 2025, Red Lobster announced the return of its annual Crabfest event along with new flavors and all-new Seafood Boils.

The promotional event follows a series of recent ups and downs for the seafood dining chain, which is currently rebounding from a bankruptcy filing more than a year ago. The company has also experienced significant leadership turnover, with a fresh lineup amassing by November 2024 for its CEO, CFO, and COO.

As part of the latest Crabfest, Red Lobster is now offering two seafood boil options...

Senate Committee Addresses Threats from Chinese & Russian IUU Fishing

On June 12, 2025, Senator Dan Sullivan of Alaska—also Chairman of the Senate Commerce, Science, and Transportation Subcommittee on Coast Guard, Maritime, and Fisheries—led a hearing on foreign illegal, unreported, and unregulated (IUU) fishing and the threat it poses to global marine ecosystems, economies, sustainable fisheries, and food security.

“We're particularly focused on the fight for fisheries resources, geopolitical flashpoints where conflict is likely to arise, and the role of both state and non-state actors involved in conflict with criminal activity in the fishing sector. And..."

ANALYSIS: Price Spread Between Snow Crab Sizes Widens Amid Limited Availability of Larger Product

The snow crab market experienced a modest increase this week in Newfoundland, specifically for the 5-8 size category, while prices for other sizes held steady. The price spread between 5-8s and larger 8-up sizes remains a focal point of industry discussion. Typically, larger snow crab—classified as 8-up and 10-up—are less abundant than 5-8s. However, this season, market participants are noting even tighter availability, making procurement more challenging than in past years...

Russia Looking to Increase Fish Catch in Arctic Region in Coming Years

Russia plans to continue increasing its fish catch in the Arctic region, despite a substantial decline in fish stocks in the region of late.

According to data from some Russian fishermen, in recent years, the stocks of cod and other white fish species in the Karelia, Murmansk and Arkhangelsk regions have seriously declined, which has led to a decline in their catch.

In addition to cod, there is a significant decline in haddock catch, while the current stock of cod in the Northern basin is at a historic low...

Russian Crab Company Group to Produce Air-Blast Frozen Crab in Barents Sea, With Focus on Japan

This year, the Russian Crab Company Group (RCCG), the largest crab fishing company in Russia’s Far East, will begin operations in the Barents Sea in northwestern Russia, according to recent reports from Minato Shimbun and multiple trading companies. RCCG will primarily produce air-blast frozen king crab products, similar to those from the Far East, with a focus on the Japanese market. RCCG's king crab quota in the Barents Sea is expected to be 4,788 tons, which will significantly change the production landscape...

Trump Places 35% Tariff on Canadian Imports, Sparking Uncertainty in Seafood Trade

US President Donald Trump announced a sweeping 35% tariff on all Canadian goods entering the US on July 10, a move that could send shockwaves through seafood industries on both sides of the border. The tariff will take effect on August 1.

The news arrived via a Trump tariff letter addressed to Canadian Prime Minister Mark Carney. Trump’s letter criticized Canada for its efforts to stop fentanyl from entering the US. Trump said Canada had chosen to retaliate with its own retaliatory tariffs rather than cooperate, prompting...

The Winding Glass: Seafood Trade Disruptions Reappear While Economic Headwinds Drive Prices Down

The economic collapse that many of us feared from the chaotic tariff policies of the Trump administration has not materialized—at least not yet. The seafood industry has shown a remarkable degree of resilience in the face of disruptive trade policy. But this should not be mistaken for invulnerability. The more pressing issue now is not tariffs but weakening consumer demand.

There are three reasons the anticipated tariff-induced disaster hasn’t occurred. First, there’s a deep political bias baked into how people perceive economic risks...

Norway Exports NOK 85.2 Billion in Seafood in First Half of 2025, Increases 6% YOY

According to a recent news release from the Norwegian Seafood Council (NSC), Norway's seafood exports increased by NOK 4.6 billion (USD $ 454.46 million), or 6%, during the first half of 2025, when compared to the same period last year, thus signifying the best first half to date for the European country.

From January to June of this year, Norway exported a total worth of NOK 85.2 billion (USD $8.4 billion) and a total volume of 1.3 million tonnes of seafood, with June alone...

Tariffs, Dollar Slump and High Crab Prices Threaten Slowdown in Consumption

Uncertain waters ahead: July tariffs and dollar decline threaten US seafood markets.

US seafood prices and supply chains are entering a period of significant uncertainty as the Trump administration's new tariffs and a weakening dollar take hold. Unless agreements are reached, tariffs on imported seafood are set to rise further starting July 8-9, reshaping the cost structure for importers and customers alike.

OAA and USDA Economic Research Service estimate that roughly 80% of U.S. seafood consumption is sourced from imports, with five countries supplying over half...

Today's Top Story: Spotlight on Seafood Markets as Expana Adds Tuna and Lobster Forecasts

In our top story today, Expana has expanded its seafood market coverage with the addition of US lobster and skipjack tuna price forecasts. Building on over 15 years of expertise in seafood price forecasting, this expansion brings the total number of seafood price series to more than 60, including key species such as salmon, shrimp, cod, and crab...

Spotlight on Seafood Markets as Expana Adds Tuna and Lobster Forecasts

Expana has expanded its seafood market coverage with the addition of US lobster and skipjack tuna price forecasts. Building on over 15 years of expertise in seafood price forecasting, this expansion brings the total number of seafood price series to more than 60, including key species such as salmon, shrimp, cod, and crab. These new additions reinforce Expana’s position as the world’s leading provider of seafood price forecasts. 

This expansion was driven by customer feedback underscoring the critical role of seafood market coverage in the agrifood sector...

Russia Struggles to Boost Domestic Deep-Sea Crab Catch 

Russia’s deep sea crab catch remains low, despite efforts by the Federal Agency for Fisheries (Rosrybolovstvo) to boost activity through quota auctions. 

After a failed attempt last month, Rosrybolovstvo tried once more to auction quotas for catching deep-sea crabs — specifically angulatus snow crab in the North-Okhotsk and East Sakhalin subzones, and red snow crab in the Primorye and West Sakhalin subzones. The starting price for the quotas exceeded 1.051 billion rubles.  

As part of the auction terms, investors were required to build fishing vessels at Russian shipyards...

Russia Sees Surge in Squid and Seafood Production Amid Rising Domestic Demand 

As domestic demand continues to surge, Russia is expecting a significant increase in the catch of squid and other seafood over the coming years.  

According to data from Alexander Panin, Chairman of the Russian Fish Union, Russian fishermen caught over 110,000 metric tons of Far Eastern squid in 2024 — an increase of 27% compared to the same period in 2023, and a 66% jump from 2022. 

This spike comes despite earlier predictions that purchasing power would decline due to international sanctions stemming from...

TPWD Aims to Buy Back 115 Commercial Oyster Boat Licenses This Round

Last week, the Texas Parks and Wildlife Department (TPWD) announced that it had received 115 commercial oyster boat license offers in round nine of its Oyster License Buyback Program (OLBP), all of which the Department plans to purchase with the help from key donors like CCA and the Texas Parks and Wildlife Foundation.

In total, the OLBP has made 545 oyster licenses available to Texas fishermen. If all buyback applicants participate this year, there would be 21% fewer oyster licenses throughout the state.

The oyster industry and various conservation groups have prioritized fewer...

Today's Top Story: India Seeks US Tariff Revisions on Shrimp Ahead of Key Trade Talks

In our top story today, as the United States and India push towards a new trade agreement, India is keeping a close eye on how the US Department of Commerce handles countervailing duties and anti-dumping duties on shrimp imports from India...

Sea-Trek Founders Step Down After 40 Years; Longtime Team Members Take the Helm

Sea-Trek Enterprises, a Rhode Island-based frozen seafood trading company, announced that its founders, Peter Coop and Mitchell Sarnoff, will step down from their roles at the company's helm.

The pair will remain involved in Sea-Trek as board members, but new ownership will take charge. The new owners are long-time employees Peter Bruno, Pieter “Dutch” Snoeren, Brian Cooper, and Ken Sullivan. All four of the new owners have been involved in the company’s growth over the past four decades...

Today's Top Story: ICE Told to Pause Worksite Raids in Agriculture, Hospitality Sectors by Trump Administration

In our top story today, the Trump administration will reportedly direct US Immigration and Customs Enforcement (ICE) to pause raids on businesses operating in the agricultural, restaurant and hotel industries. The report comes just days after Trump posted on his Truth Social account that America’s farmers, along with the hotel and leisure sector, were being negatively impacted by his immigration policy...