China Threatens Tariffs On U.S. Lobsters As Business Booms

Jun 16, 2018

A set of retaliatory tariffs released by China includes a plan to tax American lobster exports, potentially jeopardizing one of the biggest markets for the premium seafood.

Chinese officials announced the planned lobster tariff on Friday along with hundreds of other tariffs amid the country's escalating trade fight with the United States. China said it wants to place new duties on items such as farm products, autos and seafood starting on July 6.

A Chinese government website posted a list of seafood products that will face the tariffs, and it included live, fresh and frozen lobster.

China is an emerging market for U.S. lobster, which has gained popularity with the middle class. The value of China's American lobster imports grew from $108.3 million in 2016 to $142.4 million last year.