So far seafood is not on the list of the $3 billion in retaliatory tariffs China has imposed on U.S. products.

The trade taxes are in response to Donald Trump’s $60 billion hit on Chinese imports.

The tariffs went into effect on Monday when China’s Ministry of Commerce announced it would be ‘suspending tariff concessions on 128 U.S. products,’ of which 106 are agricultural items, seven are pork and 38 are steel and industrial items.

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China is the biggest seafood export market for the U.S. which sent $1.3 billion in fish and shellfish to that country last year.

Undercurrent News reports that any Chinese tariffs on U.S. seafood would mainly hurt fishing industries in New England, the west coast and Alaska.

China has been Alaska’s biggest seafood export partner for seven years, purchasing nearly $800 million worth of Alaska seafood in 2017, a 27 percent increase.

Based on federal trade data, pink salmon was the most valuable of all the seafood commodities sent to China, accounting for $171 million in sales.  Cod exports were valued at $146 million, Alaska pollock at $121 million and chum salmon exports to China were worth another $93 million.

Seafoodnews.com reports other possible U.S. seafood tariff targets might include flatfish, herring, and live and frozen crab

A second seafood trade rift could stem from another angle.

The bulk of Alaska’s seafood is sent to China for reprocessing – such as removing the tiny pin bones from salmon. It is then re-exported from China to other countries, including the U.S. Undercurrent says additional tariffs could have a big impact on that industry; currently Chinese reprocessing plants can claim for back duties.

Meanwhile, on Monday the Dow Jones industrial average fell 650 points with big slides in the U.S. stock market as more retaliations are expected between the U.S. and China and other global economic powers.  

 

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