The Canadian lobster industry is suffering major losses, after high tariffs from China have closed off exports to the world’s largest lobster importer.
Earlier this year, China’s Commerce Ministry announced 25% tariffs on Canadian lobster, in retaliation for Canadian tariffs on Chinese cars, steel, and aluminum.
Lobster prices collapsed, and are now cheaper than beef, as Vietnam’s lobster sales to China skyrocketed, increasing over 30 times.
China also relaxed earlier restrictions on Australian lobster imports.
Lobstermen in Canada are desperate for a diplomatic solution before the Chinese market is lost permanently. They are dependent on sales to the United States, also a major producer of lobster, where consumer sentiment is at record lows.
Closing scene, Jiuqian City, Gansu
Resources and links: South China Morning Post, Canada’s lobster exporters feel the pinch as China’s tariffs snip prices
SCMP, Canada’s dual tariff battles with US and China threaten to strain world trade system
Lobster industry breathes sigh of relief as tariff threat walked back for now
Canadian lobster industry takes CAD 77m hit from Chinese tariffs
SCMP, Vietnamese lobsters claw back to prominence in China after temporary dip
China Resumes Live Rock Lobster Imports from Australia
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