As the Trump administration rolled out a slew of tariffs, including a ‘baseline’ 10% tariff on all imports to the US, the announcement has been greeted with alarm in some quarters. While the White House is adamant that this is ‘liberation day’, many observers consider that US comsumers will be hit as prices rise.
The National Fisheries Institute, representing US seafood producers, stated that exemptions on reciprocal tariffs for some countries, such as Canada and Mexico, can be seen as ‘encouraging’, tariffs will raise the cost of seafood.
‘The tariffs could threaten many of the 1.6 million American jobs that, according to the federal government, US commercial seafood companies support,’ stated NFI president and CEO Lisa Wallenda Picard.
The 10% tariff applies to UK goods, and a 20% tariff is applied to goods from the European Union, in what is seen as a watershed moment for global trade. A sliding scale applies tariffs of as high as 50% to certain nations.
