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To the NFI, the tariff war harms the symbiotic partnership between China and the US in relation to seafood products.
NFI welcomes trade truce with China but expects additional commitment
(UNITED STATES, 12/4/2018)
The trade truce agreed by the presidents of China and the United States at G20 Summit, held in Argentina and both parties' commitment to continue commercial negotiations have been welcomed by the National Fisheries Institute (NFI).
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To the sector organisation, this deal is beneficial to managing, maintaining and growing American seafood businesses.
However, the NFI claims that it would additionally like to have seen a commitment from China to pause or reduce the 25 per cent tariffs they have already placed on US seafood exports.
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In a release, the NFI president, John Connelly, stressed that seafood exports to China and seafood imports from China both play and important role in growing and maintaining US jobs.
It also highlighted that the growing middle class in China is an important export market for US seafood products. At the same time, raw material from China fuels production of finished seafood products in the US.
“When it comes to seafood, the relationship between the US and China has historically been symbiotic. Tariffs damage that partnership, Connelly pointed out.
"Whether it’s imports or exports the jobs impacted are here in the US,” he stated.
The entity's president considers that a temporary suspension of tariff increases and a commitment to continued trade negotiations are welcome developments. Even a pause in trade hostilities can help return a degree of confidence to the market.
“We’re hopeful these latest developments will lead to a long term solution,” he stressed.
Related articles:
- Trade war with China could force Maine lobster industry to change its strategy
- Alaska seafood industry fears 'devastating' effect of trade war with China
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