China tariffs could erode remaining US shark fin business
PORTLAND, Maine — A new set of Chinese tariffs on U.S. seafood including items made from shark fins could further erode what remains of the American industry for the controversial products.
China announced the 25 per cent tariffs in mid-June that are expected to apply to exported American goods such as lobster and salmon beginning in July. They also will apply to whole or cut shark fins, as well as shark fin products that are canned or preserved, according to a Chinese government website.
The U.S. has long banned “shark finning,” a practice long reviled by animal welfare groups that involves removing the fin from a shark and discarding the animal at sea. It is still legal to remove and sell the fin of a legally harvested shark after it is brought to land.
The steep tariffs, which could turn away business from U.S. exporters, might have implications for American shark fishermen and processors. China is one of the biggest buyers of shark fins, as the product is used to make shark fin soup, an Asian delicacy.