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Wed Jun 24, 2020, 11:43 PM

U.S. moves to protect lobster industry, threatens tariffs on China [View all]

Source: Reuters

BUSINESS NEWS JUNE 24, 2020 / 5:51 PM / UPDATED 3 HOURS AGO

U.S. moves to protect lobster industry, threatens tariffs on China

WASHINGTON (Reuters) - U.S. President Donald Trump signed a memorandum aimed at protecting American lobster fishermen who have found export markets drying up, a White House adviser dubbed the “lobster king” said on Wednesday, adding China could face new tariffs.

“If those purchase commitments are not met, the United States Trade Representative has been directed to use his discretion to impose ... reciprocal tariffs on the China seafood industry,” trade adviser Peter Navarro told reporters. He was referring to $150 million in purchase commitments Beijing made under the so-called Phase 1 U.S.-China trade deal.

In the memorandum, Trump also directed the U.S. Agriculture Department to provide lobster fishermen with the same type of assistance other parts of the agriculture sector are receiving to protect them from harmful trade practices, Navarro said.

Senator Angus King of Maine welcomed the decision and said it would make a huge difference for Maine lobstermen who had been hurt doubly by Chinese tariffs imposed in 2018 and the collapse of sales to restaurants during the coronavirus lockdowns.

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Read more: https://www.reuters.com/article/us-usa-trade-lobster/u-s-moves-to-protect-lobster-industry-threatens-tariffs-on-china-idUSKBN23V39L

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