US tariffs endanger fishing industry - UN report warns of consequences of global trade tensions
The imposition of a 10 percent tariff by the United States on almost all fishery imports poses risks to global trade in the sector, according to a United Nations report.
The data shows that the US's large share of global fisheries trade comes because the country is a large net importer of primary (raw) fisheries. US imports amount to $16 billion and exports to $4.5 billion.
The report found that Mexico, Canada and Brazil are the countries most exposed to tariffs on fishing. Although Mexico and Canada's participation in the Neighborhood Agreement with the United States allows them to export duty-free when they meet rules of origin, products that do not comply with these obligations will face a 25 percent tariff.
While for countries like Brazil, where 55 percent of major fisheries exports are destined for the United States, exports are expected to be redirected to domestic markets or alternative trading partners.
As the US takes time to increase its production, tariffs will reduce domestic availability and increase prices of some fish products, the report noted.
The UN also raised the alarm about growing trade policy uncertainty, saying global tensions could hurt ocean-going goods trade. In particular, tariffs imposed on steel and aluminum are driving up shipbuilding costs.
In addition, ocean services will be affected by these measures, especially those of maritime freight transport, as the sector may face weaker demand compared to previous years and will have to make changes to the routes traveled.
Higher or unstable tariffs on ocean goods could harm traditional trade flows, affecting both consumers and exporters.
Since the ocean economy helps build global supply chains, supports employment and food systems, the report stressed that maintaining the sustainable flow of maritime trade is essential for global development.
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