Trump’s nixing of trade pact disappoints Alaska seafood exporters

Alaska seafood exporters are disappointed by President Donald Trump’s decision to officially withdraw from a sweeping trade agreement among Pacific nations that would have eradicated import duties imposed by Japan and other countries on pollock and salmon, the two fish species that bring in the most revenue and create the most jobs in the industry. The Trans-Pacific Partnership, which would have been former President Barack Obama’s signature legacy on trade, would have helped the pollock industry by cutting import taxes of 4.2 percent to zero in Japan, the largest consumer of pollock surimi and roe. Japan imports $248 million of Alaska pollock annually. The tariff costs importers $10 million annually in Japan alone for imitation crab, or surimi, and pollock roe, meaning similar products from nations that don’t face tariffs are more price-competitive. Existing tariffs on red salmon imported to Chile, Japan, Mexico and Vietnam also would have been removed, according to the United Nations Conference on Trade and Development. Read the story here 14:21