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 The higher 40% tariff targets products that are not originally made in Vietnam but are routed through the country to bypass higher tariffs.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...

India Seeks US Tariff Revisions on Shrimp Ahead of Key Trade Talks

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 (DOC) handles countervailing duties (CVD) and anti-dumping duties (ADD) on shrimp imports from India, according to Indian business publication mint.

The paper reported that India may lower its duties on shrimp imports from the US if the US revises its own duties on Indian shrimp. The publication’s sources said revisions would help resolve current disputes hampering current trade negotiations...

Commerce Secretary Lutnick: US-China Trade Deal Framework Finalized

United States Commerce Secretary Howard Lutnick announced that the US and China have agreed to a trade framework after two days of negotiations in London. 

After what reports described as “intense negotiations,” Lutnick told reporters that the framework builds upon an agreement made last month to ease triple-digit retaliatory tariffs. 

 In a social media post on June 11, President Trump said that a deal with China was done and called the trade relationship with China “excellent.” However, further details regarding the deal were not made public...

Dept. of State Releases Annual Determination and Certification of Shrimp-Harvesting Nations

The U.S. Department of State has determined that wild-caught shrimp or shrimp products harvested in the following fisheries/nations are eligible to enter the United States, effective May 12, 2025:

* Australia (Northern Prawn Fishery, the Queensland East Coast Trawl Fishery, the Spencer Gulf, and the Torres Strait Prawn Fishery)

* France (French Guiana)

* Italy (giant red shrimp)

* Japan (shrimp baskets in Hokkaido)

* Republic of Korea (mosquito nets); and

* Spain (Mediterranean red shrimp).

For any nations, economies, and fisheries not listed above, the U.S. is only accepting farmed shrimp...

Russian Fishermen to Significantly Increase Fish Exports to Brazil

This year, Russian fishermen plan to significantly increase their fish exports to Brazil, as part of their plans for market diversification.

For example, the local K-Flot, one of Russia’s largest fish holdings, has begun the procedure for certifying its fleet for the requirements of the Department of Inspection of Products of Animal Origin (DIPOA) of Brazil.

As an official spokesman of K-Flot said in an interview with the Russian Vedomosti business paper, the first shipments of cod to Brazil will begin already by the end of 2025...

Ukraine to Export Wild-Caught Seafood to China Following New Trade Deal

China and Ukraine inked a deal earlier this month that will pave the way for Ukraine to export its wild-caught seafood products to China, per an announcement from China’s Embassy in Ukraine.

The deal was struck during a meeting between Chinese Ambassador Ma Shengkun, Ukrainian Minister of Agricultural Policy and Food Vitalii Koval, and Serhii Tkachuk, Director of the Food Safety and Consumer Protection Agency.

The Chinese embassy noted that the deal showcases further expansion of agricultural trade between the two countries...

Japanese Importers See Opportunities to Increase Canadian Spot Prawn Imports

According to a Minato Shimbun report, following China's announcement to impose an additional 25% tariff on Canadian seafood products, a Japanese trading company predicts that the volume of Canadian spot prawn and lobster exported to Japan will increase. Regarding Canadian spot prawns, the trading company predicts that "in recent years, exports to Japan have decreased due to an increase in exports to China, but the Japanese market will be subject to market restructuring."

Canadian spot shrimp are caught in British Columbia. The 2024 fishing season was from...

Fishing Industry on the Brink: FCC Calls for Urgent Government Action

The Fisheries Council of Canada (FCC) called China’s 25% tariff on Canadian seafood exports an “existential threat” to fishing operations across the country, especially as it follows US tariffs.

The FCC has pushed to sound the alarm on the impact of the China tariffs, with the March 20 deadline approaching. The double tariff situation could impact 83% of Canada’s seafood export markets within a span of days. The US and China represent roughly CA$6.6 billion ($4.6 billion) of Canada’s CA$8.1 billion in fish...

The Winding Glass: Seafood Consumption in Crossfire as Global Tariff War Erupts

The biggest loser in the global tariff wars that have erupted in seafood will be American consumers, importers, processors and distributors.

This week Pres. Trump unilaterally imposed 25% tariffs on all Canadian seafood.  This covers almost all the snow crab, 55% of domestic live lobster, and about 50% of whole farmed Atlantic salmon consumed in the US.

In response to US pressure on Canada to follow its tariff war with China, the Canadians imposed higher tariffs on some Chinese products last fall...

US Demand Helps Fuel Record Norwegian Seafood Exports in February

Norway experienced its highest export value for the month of February. While there were a multitude of factors at play, trade with the US was a key factor. A similar story was the case in January as the US was the largest market for Norwegian seafood on a value basis to start 2025, as Expana reported.

According to the council, the USA had the highest value growth in February, witnessing an export value increase of NOK 548 million ($50 million)...

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%...

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...

Trump Signs Memo to Advance Reciprocal Tariffs, Aims to Balance Trade

President Trump signed a memorandum that could lead to the implementation of reciprocal tariffs on the trading partners of the United States.

“The ‘Fair and Reciprocal Plan’ will seek to correct longstanding imbalances in international trade and ensure fairness across the board,” per a fact sheet from the White House. “Gone are the days of America being taken advantage of: this plan will put the American worker first, improve our competitiveness in every area of industry, reduce our trade deficit, and bolster our economic and national security...

Canadian Countermeasures on Trump’s Tariffs Extend Throughout the Maritimes

Participants in some of the most inclusive and far-reaching fisheries, forestry and agriculture roundtables are showing unprecedented unity and resolve as they collectively prepare a plan of action for potential US tariffs and establish a long-term vision for growth and development,” the government of Newfoundland and Labrador wrote in a news release on Monday, February 10, 2025. Gerry Byrne, Minister of Fisheries, Forestry and Agriculture in NL, hosted a series of roundtables with representatives from the province’s three renewable resource sectors...

US Becomes Largest Market for Norwegian Seafood Exports in January Amid Tariff Talks

The US was the largest market for Norwegian seafood exports in January 2025 on a value basis. The Norwegian Seafood Council said the country exported NOK 1.5 billion ($133.7 million), accounting for 9.7% of total exports.

“Even though President Donald Trump has talked a lot about increased tariffs for his trading partners, we note that January was a historic month for Norwegian seafood exports to the US. Never has Norway exported fish and shellfish worth as much to the US market as we did in January...

Atlantic Sapphire to Rent-Out Danish Facility; Feed Costs Impacted by Trump’s Tariffs

Land-based salmon farmer Atlantic Sapphire announced that it has entered into a short-term lease agreement with Maiken Foods AS to rent out its Danish facility.

Maiken will facilitate a pilot for its fish farming solution as its time as a tenant. During the lease period, Maiken will have a purchase option for the entity which will allow the company to create a large-scale land-based salmon farming operation.

In 2021, Atlantic Sapphire was hit with a major fire at its...

Seven Vietnamese Pangasius Exporters Exempt from US Anti-dumping Duties

The US Department of Commerce (DOC) announced that seven Vietnamese pangasius producers will be exempt from anti-dumping tariffs following its 20^th administrative review on frozen fillets imported from Vietnam into the US.

According to a Federal Register notice, Bien Dong Seafood Joint Stock Company did not sell frozen pangasius fillets in the US at prices below normal value. The Vietnam Association of Seafood Exporters and Producers (VASEP) said this makes Bien Dong eligible for a 0% tax rate.

Alongside Bien Dong...

Commerce Secretary Lutnick Addresses Maine Lobster Tariffs, Promises Science-Backed Regulations

Last week, Commerce Secretary Howard Lutnick weighed in on pressing concerns for Maine's lobster industry, including US-Canada lobster tariffs and promising a commitment to "gold standard science" in future federal regulations impacting the state's staple seafood.

Lutnick went so far as to call the industry an “American treasure” that should be protected.

During the hearing, Lutnick was questioned by Senator Susan Collins (R-ME), who highlighted how intertwined Canada and Maine are, noting the impact of tariffs on lobster, which is primarily processed in Canada, along with other...

Trump Signs New Executive Order to Strengthen US Seafood Industry, Review Marine National Monuments

On April 17, U.S. President Donald Trump signed an executive order, titled “Restoring American Seafood Competitiveness,” which focuses on improving the domestic seafood industry by addressing unfair trade practices, instating new policies that promote domestic seafood resources, and revising current regulations that “overly burden America’s commercial fishing, aquaculture, and fish processing industries at the fishery-specific level.”

Collaborating with the domestic seafood industry

Per the order, the Secretary of Commerce (Howard Lutnick) will cooperate with the Regional Fishery Management Councils (RFMC), interagency partners, and other stakeholders...

The Winding Glass: We Will All Pay the Price for Tariff Stupidity, Incompetence, and Hubris- Opinion

Trump has no tariff plan. Most tariffs are negotiated on specific commodities, with painstaking analysis of costs of inputs, subsidies, and trade balances. Anyone who remembers the imposition of shrimp tariffs in 2004 knows that even though the process was driven by the politics of domestic shrimpers, the actual process was detailed and company specific. As a result, those companies demonstrating a lack of subsidy and realistic cost inputs avoided significant tariffs. Within a short time, the shrimp market was healthy again...

US-Canada Trade Tensions Loom Over Newfoundland Snow Crab Negotiations

FFAW-Unifor, a union representing fishermen throughout Newfoundland and Labrador, said negotiations with the Association of Seafood Producers (ASP), a trade group representing processors and producers in the region, “have been productive.”

According to the FFAW, stronger snow crab market conditions compared to recent years have helped negotiations. The FFAW also noted the price increases in the Urner Barry by Expana price index.

“We have seen steady increases in the Urner Barry price index and inventory is not a factor. In fact, Urner Barry ceased quoting...

NL Delegation to Meet with New Buyers at Seafood Expo North America and Explore Market Opportunities 

The Government of Newfoundland and Labrador’s (NL) Fisheries, Forestry and Agriculture division recently announced that Minister Honorable Gerry Byrne and a delegation of provincial fishery representatives will meet with key global buyers during the 2025 Seafood Expo North America (SENA).

The annual seafood expo takes place on March 16 – 18 in Boston, Massachusetts, and will allow the NL government to explore global market opportunities with key players in the seafood sector.

This year, NL will be co-exhibiting with the following companies...

US Benefits from EU Decision to Restrict Russian Imports of Pollock Fillets

The U.S. has become the main beneficiary of the European Union’s (EU) decision to restrict imports of Russian pollock fillets via imposition of a 13.7% duty on all Russian supplies.

As Alexey Buglak, head of the Russian Pollock Association (ADM) stated in an interview with the Russian RBC business paper, in 2024, the U.S. became the main supplier of pollock fillets to the EU market.

He also added that, prior to this, China was the main supplier of pollock fillets to the European market with a share of...

Trump Pauses Tariffs on USMCA-Compliant Imports from Mexico, Canada Until April 2

President Donald Trump’s social media posts are shaping trade policy in real-time: The president announced that some of the previously enacted 25% tariffs on Mexican goods will be delayed until April 2.

“After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement. This Agreement is until April 2nd.”

An hour prior, Trump also posted about Canadian PM, Justin Trudeau on Truth Social...

US Seafood Targeted in Canada’s Proposed Retaliatory Tariff List

Canada wasted no time hitting back at new U.S. tariffs, with Prime Minister Justin Trudeau announcing immediate 25% retaliatory duties on C$30 billion ($20.9 billion) worth of American imports after the levies took effect on March 4.

“Canada is being needlessly and unfairly targeted by these tariffs – and the US' decision leaves us with no choice but to respond to protect Canadian interests, workers and businesses. Working with provincial, territorial and industry partners, our singular focus is to remove these tariffs as quickly as possible...

‘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...

Indonesia's Blue Swimming Crab Exports in Jeopardy Amid Stricter Currency Controls

The latest trade policy initiated by Indonesia will likely have an outsized impact on the blue swimming crab meat trade compared to other seafood species produced within the country. 

Earlier this week, Expana reported that a new regulation would require Indonesia’s exporters (including fisheries and forestry) to retain their earnings for a full year in a special account in a national bank. A previous policy forced exporters to keep at least 30% of export proceeds in the local financial system for at least 90 days...

Congressman Urges Trump to Crack Down on Seafood Imports from China, India, and Others 

US Congressman Clay Higgins (R-LA) wrote a letter to President Trump requesting tariffs be placed on seafood imports from China, Ecuador, India, Indonesia, and Vietnam, some of the country’s largest trading partners.

“Domestic shrimpers, fishermen, and crawfish producers in Louisiana and across the country face significant challenges competing against foreign seafood industries that are heavily subsidized and engage in illegal dumping into the United States,” Congressman Higgins wrote. “These unrighteous trade practices artificially drive down prices, disrupt fair market conditions, and threaten...

Ecuador and Mexico Clash Over Shrimp Trade and Tariff Disputes

On Monday, February 3, Ecuador’s President Daniel Noboa declared that Ecuador would be applying a 27% tariff on all Mexican goods in order to promote fair treatment of Ecuadorian companies.

At a press conference the following day, Mexico’s President Claudia Sheinbaum responded, saying that Mexican exports into Ecuador account for only 0.4% of Mexico’s overall foreign exports, implying that the proposed tariffs will not have a significant impact on the Central America country.

José Antonio Camposano, executive president of the National Chamber of Aquaculture of Ecuador, then replied via...

Nova Scotia Seafood Sector Embarks on Trade Mission to Europe Amid Stalled Tariffs

Recently, Nova Scotia Fisheries and Aquaculture Minister Kent Smith led a trade mission to Europe, alongside a delegation of key stakeholders within the Atlantic Canadian seafood sector, in an effort to diversify the country’s seafood market, especially amid President Trump’s pending US import tariffs.

The delegation, comprised of six Nova Scotian seafood companies and eight Atlantic Canadian seafood companies, included participation by the following seafood leaders: Lobster Hub Inc., Louisbourg Seafoods Ltd., Victoria Co-Operative Fisheries Ltd., Tribune Seafood Inc., Gidney Fisheries Ltd...