At least one Canadian industry is benefiting from the escalating trade war between the U.S. and China – lobster fishing.
U.S. lobster exports to China have fallen sharply this summer as new retaliatory tariffs shift the seafood business to Canada. China, a huge and growing customer for lobster, placed heavy tariffs on U.S. lobster imports in July 2018 amid rising trade hostilities between the Chinese and Trump administration in Washington, D.C.
Meanwhile, business is booming in Canada, where cargo planes are coming to Halifax and Moncton to handle a growing boost in exports. Canadian fishermen catch the same species of lobster as American fishermen, who are based mostly in Maine near the Canadian border.
The U.S. has exported less than 2.2 million pounds (one million kilograms) of lobster to China this year through June, according to data from the U.S. federal government. The U.S. exported nearly 12 million pounds (5.44 million kg) during that same period in 2018.
In Canada, lobster exports to China through June were already approaching 33 million pounds (14.97 million kg), which is nearly as much as all of 2018. The value of Canada's exports was nearing $200 million U.S. through June and was almost sure to outstrip last year's total of $223 million.
U.S. lobster exports to China through June were valued at less than $19 million, more than $70 million behind where they were through June 2018.
