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US lobster industry hopes deal revives trade with China A dealer at Cape Porpoise holds a 3½-pound lobster in Kennebunkport, Maine, in August. China is one of the biggest lobster markets in the world. AP PHOTO Modified: 1/15/2020 11:26:29 PM PORTLAND, Maine Members of the American lobster industry are hopeful the thawing of trade relations between the U.S. and China will reopen one of the biggest markets in the world for the seafood. China is one of the biggest export destinations for lobster, which are trapped in the cold waters of the Atlantic Ocean by American and Canadian fishermen and are worth hundreds of millions of dollars per year. But President Donald Trump’s trade hostilities with China resulted in heavy tariffs on U.S. lobster exports, and Canada took firm control of the business over the last 18 months. ....
Chinese New Year is one of the busiest parts of the calendar for America s lobster shippers, who export millions of dollars worth of the crustaceans. ....
US lobster industry braces for Chinese New Year impacted by COVID-19 Toggle share menu Advertisement US lobster industry braces for Chinese New Year impacted by COVID-19 America sent more than US$140 million in lobsters to China in 2017 and 2018, but exports fell to about US$51 million in 2019 because of heavy tariffs imposed during the trade war. (Photo: AP) 08 Feb 2021 09:13PM Share this content Bookmark PORTLAND, Maine: America s lobster exporters recovered from the Trump-era trade war with China to have a good 2020. But the industry is approaching one of the most critical times of the year with trepidation because of the coronavirus. ....