Alaska seafood industry making plans for China tariff impact
KODIAK, Alaska (AP) – Alaska’s seafood industry is exploring strategies to reduce damage from the Trump administration’s trade dispute with China.
The Kodiak Daily Mirror reported Thursday that the Alaska Seafood Marketing Institute plans to explore how Alaska can enter additional markets to expand the state’s seafood brand.
The U.S. plans to raise tariffs on $200 billion in Chinese imports from 10% to 25% Friday.
The institute says China is the largest export market and reprocessor of Alaska seafood, with about $989 million worth of sales to China in 2017 alone.
Executive Director Jeremy Woodrow says the institute is looking at “both traditional and nontraditional markets.”
Woodrow says a survey of Alaska seafood businesses found 65% immediately lost sales after tariffs were implemented, 50% reported sales delays and 36% reported lost customers in China.
Information from: Kodiak (Alaska) Daily Mirror, http://www.kodiakdailymirror.com