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Giantone · 09-15-2018, 06:06 PM

Tariffs update..............

https://www.yahoo.com/finance/news/l...154955816.html

Business
Layoffs hit, prices lag as tariff pinches lobster industry
Associated Press PATRICK WHITTLE,Associated Press Fri, Sep 14 1:47 PM ED

PORTLAND, Maine (AP) — The American lobster industry is starting to feel the pinch of China's tariff on U.S. seafood as exporters and dealers cope with sagging prices, new financial pressures and difficulty sending lobsters overseas.

China is a major buyer of lobsters, and it imposed a heavy tariff on exports from the U.S. in early July amid trade hostilities between the two superpowers. Exporters in the U.S. said their business in China has dried up since then.

Wholesale prices for live lobsters have also dipped a bit as dealers have lost markets. Prices in July and August were both slightly less than the same month in the previous year, business publisher Urner Barry reported.

One exporter, The Lobster Co. of Arundel, Maine, resorted to laying off four people, which constituted 25 percent of its wholesale staff, said Stephanie Nadeau, the company's owner.

"I can cut my variable costs and tuck my head in and see if this storm passes," she said. "What they've done is made it so everybody is fighting over the remaining customers. Price goes down, margins go down."

https://finance.yahoo.com/news/10-co...183033235.html

Time is working against certain businesses, however. The ripple effect stemming from the initial victims' struggle could take weeks if not months to be fully felt on other fronts. And new tariffs are being imposed. It will take weeks and/or months to feel their full impact as well, even as those outfits start to feel the early ripples.

........................gotta love trump.

09-15-2018, 06:06 PM	#1279
Giantone Gamebreaker Join Date: Apr 2006 Posts: 14,433	Re: When is Enough ,Enough? Tariffs update.............. https://www.yahoo.com/finance/news/l...154955816.html Business Layoffs hit, prices lag as tariff pinches lobster industry Associated Press PATRICK WHITTLE,Associated Press Fri, Sep 14 1:47 PM ED PORTLAND, Maine (AP) — The American lobster industry is starting to feel the pinch of China's tariff on U.S. seafood as exporters and dealers cope with sagging prices, new financial pressures and difficulty sending lobsters overseas. China is a major buyer of lobsters, and it imposed a heavy tariff on exports from the U.S. in early July amid trade hostilities between the two superpowers. Exporters in the U.S. said their business in China has dried up since then. Wholesale prices for live lobsters have also dipped a bit as dealers have lost markets. Prices in July and August were both slightly less than the same month in the previous year, business publisher Urner Barry reported. One exporter, The Lobster Co. of Arundel, Maine, resorted to laying off four people, which constituted 25 percent of its wholesale staff, said Stephanie Nadeau, the company's owner. "I can cut my variable costs and tuck my head in and see if this storm passes," she said. "What they've done is made it so everybody is fighting over the remaining customers. Price goes down, margins go down." https://finance.yahoo.com/news/10-co...183033235.html Time is working against certain businesses, however. The ripple effect stemming from the initial victims' struggle could take weeks if not months to be fully felt on other fronts. And new tariffs are being imposed. It will take weeks and/or months to feel their full impact as well, even as those outfits start to feel the early ripples. ........................gotta love trump. __________________ ....DISCLAIMER: All of my posts/threads are my expressed typed opinion and the reader is not to assume these comments are absolute fact, law, or truth unless otherwise stated in said post/thread. Last edited by Giantone; 09-15-2018 at 06:22 PM.