Louis Harkell: UndercurrentNews
Just how long the US will levy additional 25% tariffs on $200 billion worth of imports from China, including seafood items such as tilapia fillets and breaded shrimp, is now the underlying concern of processors in countries who might be tempted to invest in capacity, reckons Jim Gulkin, CEO of seafood sourcing and exporting firm Siam Canadian Group.
Referring to breaded shrimp, Gulkin notes China exports “big volumes” to the US, but Vietnam, Thailand and India are currently holding off from expanding capacity until it becomes clearer how long tariffs might last, he reckons. He notes US president Donald Trump appears to want to reach a deal with China.
“I think people are a bit reluctant to start marking major changes until it’s really clear what’s going to happen. People aren’t just jumping in yet,” Gulkin told Undercurrent News at Thaifex.
According to the National Oceanic and Atmospheric Administration (NOAA), in 2018, the US imported $181m worth of breaded shrimp from China, or 50% of total US breaded shrimp imports.