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Layoffs hit, prices lag as tariff pinches lobster industry

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By Patrick Whittle The Associated Press PORTLAND, Maine — The American lobster industry is starting to feel the pinch of China’s tariff on U.S. seafood as exporters and dealers cope with sagging prices, new financial pressures and difficulty sending lobsters overseas.China is a major buyer of lobsters, and it imposed a heavy tariff on exports from the U.S. in early July amid trade hostilities between the two superpowers. Exporters in the U.S. said their business in China has dried up since then.Wholesale prices […]
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Source:: Norwich Biz news

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