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There appears to be further movement in the effort to knock back Chinese tariffs on American lobster. Fred Bever reports.
Yesterday (MONDAY) the Chinese government announced it would allow Chinese businesses to apply for a tariff exemption that would let them buy American lobster at a lower price.
The exemption could last as long as a year, and could be renewed after that. Full details haven't been released yet
but it appears that those who win the exemption would see the tariff rate
on American lobster drop to China's "favored nation" status.
That would bring the tariff rate from about 30 percent to about 7 percent.