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Aug 08, 2018 (newstodate): July 2018 showed record-high growth in Norway's exports of fresh salmon - up in volumes by 20 percent, y-o-y, to 88,000 tonnes.
But while growth in demand persists in the global marketplace, it is not just plain sailing ahead..
-The trade conflict now building up rings a bell of warning for the global seafood industry. We are witnessing a domino play with a highly uncertain outcome, says Sigmund Bjoergo, Norwegian Seafood Council Director Sweden, and formerly Norwegian Seafood Council Director China.
-So far, China has levied new tariffs on US seafood imported to China for consumption while excepting US seafood imported to China for processing. And USA has levied new tariffs on imports of Chinese seafood, first by 10 and now by 25 percent.
-We may still not have seen the end of this trade war and no-one can predict where it ends.
-The Chinese toll on US seafood for consumption has only limited effect as most of the volumes are imported for processing. The US tariffs on Chinese seafood pose a bigger challenge as for instance imports of Norwegian whitefish are processed in China for re-export to the US market.
-The entire global seafood market may eventually be significantly affected by this developing trade war, and as a small open economy exporting more than 95 percent of all seafood produced, Norway is especially vulnerable to global trade wars.
-We definitely prefer open markets and as few trade barriers as possible, says Mr Bjorgo.
But while growth in demand persists in the global marketplace, it is not just plain sailing ahead..
-The trade conflict now building up rings a bell of warning for the global seafood industry. We are witnessing a domino play with a highly uncertain outcome, says Sigmund Bjoergo, Norwegian Seafood Council Director Sweden, and formerly Norwegian Seafood Council Director China.
-So far, China has levied new tariffs on US seafood imported to China for consumption while excepting US seafood imported to China for processing. And USA has levied new tariffs on imports of Chinese seafood, first by 10 and now by 25 percent.
-We may still not have seen the end of this trade war and no-one can predict where it ends.
-The Chinese toll on US seafood for consumption has only limited effect as most of the volumes are imported for processing. The US tariffs on Chinese seafood pose a bigger challenge as for instance imports of Norwegian whitefish are processed in China for re-export to the US market.
-The entire global seafood market may eventually be significantly affected by this developing trade war, and as a small open economy exporting more than 95 percent of all seafood produced, Norway is especially vulnerable to global trade wars.
-We definitely prefer open markets and as few trade barriers as possible, says Mr Bjorgo.