US lobster industry hopes new deal renews trade with China

Published: Jan. 15, 2020 at 8:21 PM EST
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Members of the American lobster industry are hopeful the thawing of trade relations between the U.S. and China will reopen one of the biggest markets in the world for lobsters.

China is one of the biggest export destinations for lobster, which are trapped by American and Canadian fishermen and are worth hundreds of millions of dollars per year.

But President Donald Trump's trade hostilities with China resulted in heavy tariffs on U.S. lobster exports, and the Canada has taken firm control of the business over the last 18 months.

Trump and China announced a new trade agreement Wednesday that could change that.

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