PORTLAND, Maine - Members of the American lobster industry are hopeful the thawing of trade relations between the US and China will reopen one of the biggest markets in the world for the seafood.
Trump and Chinese officials announced a new trade agreement on Wednesday that could change all that. The proposal includes purchase agreements that formalise China's commitment to buy more American goods in some sectors, said Republican Senator Susan Collins.That clears a path for American lobster exporters to take back access to China, a market that had been growing for years, said Annie Tselikis, executive director of Maine Lobster Dealers' Association.
The collapse of the export market followed years of heavy growth spurred in part by the expanding Chinese middle class. The US lobster industry benefited from the growth of the Chinese market prior to the trade hostilities because fishermen are in the midst of a multi-year boom in lobster hauls.
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