Trade in marine products between the US and China prospers despite uncertainties

Seafood

United States

China

Market & Price Trends

Published Mar 20, 2024

Tridge summary

Despite economic uncertainties, US and Chinese seafood companies are optimistic about expanding their businesses in each other's markets. The 2024 North American Seafood Expo saw participation from nearly 60 Chinese companies, including Zhanjiang Manxian Attain Seafood Co., Ltd, which expressed confidence in the US market. Similarly, US-based Greenhead Lobster LLC views China as a crucial export market. In 2023, China's imports of US aquatic products increased by 12.13%, while its exports to the US fell by 13.93%. However, challenges such as tariffs, inflation, slowing economic growth, and visa issues remain.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

U.S. and Chinese seafood industry players have expressed optimism about business expansion in each country despite multi-front uncertainties. Nearly 60 companies from China participated in the 2024 North American Seafood Expo from Sunday to Tuesday. The outlook for the US market is promising and "we are confident in the US market," said Danny Deng, vice president of Zhanjiang Manxian Attain Seafood Co., Ltd. Speaking at his booth at the expo, Deng said his company has been focusing on South America and this is the first time it has presented products at the trade show in Boston. China has complete industrial chains for tilapia, tuna and other marine products that are a necessity in people's daily lives, Deng said, adding that a good number of potential customers visited their booth with clear business purposes. Deng said his company would take a step-by-step measure to open up the US market and offer the best quality products to customers here. China is a very important part of ...

Source: Milenio