US moves to protect lobster industry, threatens tariffs on China | Malay Mail

In the memorandum, Trump directed the US Agriculture Department to provide lobster fishermen with the same type of assistance other parts of the agriculture sector are receiving to protect them from harmful trade practices. — Reuters pic

“If those purchase commitments are not met, the United States Trade Representative has been directed to use his discretion to impose ... reciprocal tariffs on the China seafood industry,” trade adviser Peter Navarro told reporters. He was referring to US$150 million in purchase commitments Beijing made under the so-called Phase 1 US-China trade deal.

Senator Angus King of Maine welcomed the decision and said it would make a huge difference for Maine lobstermen who had been hurt doubly by Chinese tariffs imposed in 2018 and the collapse of sales to restaurants during the coronavirus lockdowns. The US Trade Representative's office and the Maine Lobstermen's Association did not immediately respond to requests for comment.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian stocks climb after volatile trade on US-China trade confusion | Malay MailSYDNEY, June 23 — Asian equity markets bounced on Tuesday after US President Donald Trump said the US-China trade pact was “fully intact”, clarifying earlier confusing statements from the White House over the fate of the deal. MSCI’s broadest index of Asia Pacific shares outside of Japan...
Source: malaymail - 🏆 1. / 86 Read more »

US stocks gain as Trump confirms China deal on track | Malay MailNEW YORK, June 23 — Wall Street stocks rose early today after US President Donald Trump confirmed that a trade agreement with China remains on track, overruling an aide who said the deal was derailed. About 25 minutes into trading, the Dow Jones Industrial Average was at 26,216.39, up 0.7 per...
Source: malaymail - 🏆 1. / 86 Read more »

Trump threat to 'decouple' US and China hits trade, investment reality | Malay MailWASHINGTON, June 24 — Conflicting talk from Trump administration officials about “decoupling” the US economy from China is running into a challenging reality: Chinese imports of US goods are rising, investment by American companies into China continues, and markets are wary of separating the...
Source: malaymail - 🏆 1. / 86 Read more »