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Trump's trade war with China creates unexpected winner: Canada's lobster industry
Source: The Guardian
Trump’s trade war with China creates unexpected winner: Canada's lobster industry
Prices are at record levels and demand is growing for fishermen north of the border after China imposed tariffs on live lobsters
Leyland Cecco in Toronto
Sun 8 Sep 2019 05.00 BST
Last modified on Sun 8 Sep 2019 05.01 BST
Long hours, rolling ocean swells, and the occasional spring snowstorm are all part of the job for Francis Morrissey.
“It’s bred into you from the time you’re a child: you either like the ocean or you don’t,” said the fisherman and business owner from the Canadian province of Prince Edward Island. “Even when I’m in the office, I wish I was out there.”
In recent months, Morrissey has had even more reason to head back out on to the water: prices are at record levels and demand is only growing as Donald Trump’s trade war with China undercuts America’s own lobster industry, giving an unexpected boost to fishermen north of the border.
The US lobster industry was dealt a fresh blow in July, when China announced new tariffs on live lobsters, as part of a broader levy on exports from the US. The latest move will add an additional 10% to the price of lobsters headed for China, which already face 25% penalty tariffs.
One clear winner of the trade war has been Canada, which has exported twice as many live lobsters in 2019 as the previous year, according to industry figures.
-snip-
Prices are at record levels and demand is growing for fishermen north of the border after China imposed tariffs on live lobsters
Leyland Cecco in Toronto
Sun 8 Sep 2019 05.00 BST
Last modified on Sun 8 Sep 2019 05.01 BST
Long hours, rolling ocean swells, and the occasional spring snowstorm are all part of the job for Francis Morrissey.
“It’s bred into you from the time you’re a child: you either like the ocean or you don’t,” said the fisherman and business owner from the Canadian province of Prince Edward Island. “Even when I’m in the office, I wish I was out there.”
In recent months, Morrissey has had even more reason to head back out on to the water: prices are at record levels and demand is only growing as Donald Trump’s trade war with China undercuts America’s own lobster industry, giving an unexpected boost to fishermen north of the border.
The US lobster industry was dealt a fresh blow in July, when China announced new tariffs on live lobsters, as part of a broader levy on exports from the US. The latest move will add an additional 10% to the price of lobsters headed for China, which already face 25% penalty tariffs.
One clear winner of the trade war has been Canada, which has exported twice as many live lobsters in 2019 as the previous year, according to industry figures.
-snip-
Read more: https://www.theguardian.com/world/2019/sep/08/canada-lobster-industry-trump-china-trade-war
1 replies
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