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...

US to Impose 25% Tariff on Japanese and Korean Imports Starting August 1

President Donald Trump's tariff letters are being rolled out, with Korea and Japan at the forefront. In identical letters released on July 7, the administration announced that both countries will face a 25% tariff on all goods imported into the United States, effective August 1.

In identical letters sent to the leaders of both countries, Trump declared that the US would impose the tariffs “on any and all Korean (Japanese) products sent into the US,” including goods transshipped through third countries in an attempt to bypass the...

Trump Letters Reveal August 1 Tariff Rates for Key US Trading Partners

The Trump administration was busy after the Fourth of July holiday, as the President sent out a litany of letters to US trading partners revealing what their tariff rate would be starting on August 1.

Over the weekend, President Donald Trump and members of the administration announced that letters would begin rolling out showcasing new tariff rates for countries. The letters came at a rapid pace on Monday afternoon, with messages dispatched to the leaders of Japan, South Korea and South Africa, to name a few...

US Pushes Tariff Deadline to August, Trump Administration Expects Surge in Deals

President Donald Trump said on July 6 that the US is nearing several new trade deals and that letters will be sent to trading partners by July 9, warning of increased tariffs set to take effect on August 1.

The move effectively extends the administration’s trade deadline from July 9 to August 1, giving Trump more time to finalize agreements. So far, the U.S. has signed just two deals—one with the United Kingdom and another with Vietnam, as Expana reported last week...

US House Republicans Back Amendment to Expand H-2B Visa Access for Seasonal Workers 

US House Republicans have approved an amendment to the Homeland Security Appropriations bill that could significantly expand the number of seasonal migrant workers allowed into the country each year.  

The measure, which was introduced by Rep. Chellie Pingree (D-Maine) and Rep. Andy Harris, M.D. (R-Maryland), would benefit businesses reliant on the H-2B visa program. It allows employers that have hired migrant workers in the past five years — and have complied with all program requirements — to bring back the same number of...

Canadian Officials Detect Dermo in PEI Oysters: Province's First Confirmed Dermo Case

On July 4, the Canadian Food Inspection Agency (CFIA) confirmed the presence of Dermo in oyster samples collected in Egmont Bay, Prince Edward Island (PEI), marking the province’s first confirmed case of Dermo.

This comes after the CFIA previously confirmed the presence of Dermo in oyster samples collected in New Brunswick and Nova Scotia in November 2024. Also, just last month, Newfoundland and Labrador announced its first confirmed case of Dermo in oysters.

An aquatic parasite also known as Perkinsosis, Dermo can be transmitted from oyster to...

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...

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...

Court Sets Date for NMFS to Decide if West Coast Chinook Salmon Should be on the Endangered List

The Center for Biological Diversity (CBD) and three co-plaintiffs recently won a three-year legal battle for NOAA Fisheries to set deadlines on whether spring-run Chinook salmon in Oregon, Washington, and Northern California warrant protection under the Endangered Species Act (ESA).

Oregon’s District Court Judge Jeff Armistead signed the court order on June 27 establishing November 3, 2025, as the deadline for the Oregon Coast and Southern Oregon-Northern California Coast Chinook salmon and January 2, 2026, as the deadline...

ANALYSIS: Front-Loading Frenzy; May Shrimp Imports Increase 14.6% YTD on Tariff Deadline

Executive Summary

May shrimp import data reveals continued strong volume growth accompanied by rising replacement costs, creating a challenging market dynamic. While imports exceeded expectations across most categories, the combination of higher volumes, elevated costs, and front-loading ahead of tariff implementation, suggests significant inventory accumulation. The market faces a fundamental paradox: imports and costs are both rising, yet U.S. demand remains tepid, pointing to inevitable margin compression as the industry struggles to absorb higher costs across the supply chain without proportional demand...

ANALYSIS: Wild Salmon Week in Review — Week 26, June 29–July 5

While stronger Copper River landings have yet to materialize, Bristol Bay continues to gain momentum. Last week recorded the largest weekly landings in the Bay since the historic 2022 run. Through statistical week 26, Bristol Bay landings reached 22.75 million fish, a 58 percent increase over the same period last year and 53 percent above the five-year average. This robust harvest has been a key driver of broader market pricing trends, as buyers shift focus to the Bay’s high-volume production. The market enters this week with attention firmly on Bristol Bay as peak harvest approaches and pricing trends continue to...

ANALYSIS: Scottish Atlantic Salmon Exhibits Market Share Growth in Some Key European Markets

The Salmon Scotland Organization announced a new UK–EU trade deal that will reduce post-Brexit difficulties and delays, which have cost exporters an estimated £3 million annually. France remains the top market, receiving 500 lorryloads of Scottish salmon weekly. According to the Salmon Scotland Organization, the sector supports 12,500 jobs and contributes £760 million to the UK economy. The Scottish sector is optimistic that this new trade agreement will reduce the time of delivery by removing physical checks. In addition, the...

SFP 2024 Reduction Report Reveals Decline in Sustainability of Key Fisheries 

Sustainable Fisheries Partnership (SFP) has released its 2024 Reduction Fisheries Report, revealing a significant decline in the performance of key fisheries that supply marine ingredients for fishmeal and fish oil production. 

The annual report evaluates the stock health, management quality, and overall sustainability of major Pacific and Atlantic fish stocks, with a primary focus on European and American fisheries. 

Now in its 15th edition, the 2024 report assesses 22 fish stocks (across 26 fisheries) used for reduction purposes, reflecting their status as of...

Mexico Launches Global Center for Regenerative Aquaculture  

A new global hub dedicated to advancing regenerative aquaculture is opening in La Paz, Mexico. The Center for Applied Aquaculture Innovation (CAAI) — launched by Innovaciones Alumbra (iAlumbra) — aims to boost food security, restore ocean ecosystems, and improve coastal economic opportunities, all while focusing on sustainability. 

“Our oceans and their resources are significantly degraded. It is no longer enough to assume that sustainability alone will reverse the damage,” said Walmart heiress and iAlumbra founder Christy Walton in a statement.  “It’s time to invest significantly in advanced technologies and...

ANALYSIS: Ecuador Shatters Export Records as Tariff Uncertainty Drives Historic May Performance

Preliminary trade data shows that Ecuadorian shrimp exports achieved an unprecedented monthly milestone in May 2025, reaching 334 million pounds in commercial weight, obliterating the previous record of approximately 275 million pounds. This remarkable 21% surge above the prior peak underscores the profound impact of impending U.S. tariff decisions on global trade flows, which is occurring even as American consumer demand has returned to pre-pandemic levels following the temporary surge during the pandemic.

The May explosion propels Ecuador's year-to-date exports 16.5% above...

ANALYSIS: Fresh Chilean Salmon Fillets Soften Ahead of Seasonal Trend

The market for fresh Chilean salmon fillets continues to show signs of weakness, trending lower earlier than usual for this time of year. Historically, pricing begins to soften after Mother’s Day, but this year the decline began in early May. Since the end of April, the price for 3–4-pound fresh Chilean fillets—considered the bellwether size—has fallen 19.2%. This marks a notable departure from the 3-year average, with current prices down 5.1% compared to historical trends.

Despite a nine-week slide, the market has...

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...