US Senator Angus King, I-Maine, during an interview with Bloomberg on Monday, claimed that the present trade war going on with China is affecting the lobster industry of his home state already.
In the interview, King told that the American consumers, and not the Chinese, are paying a lot of tax on consumer goods.
By using Maine’s lobster industry as an example, King said that the export of lobsters from Maine to China, one of the major markets Maine has worked for years with, is now dead virtually due to the retaliatory tariffs imposed by China.
The US as well as China made an announcement that they are increasing the tariffs on several of each other’s imports, thus intensifying a trade war. China raised tariffs on USD 60bn worth of US goods on Monday. This move came in as a result of US President Donald Trump increasing the tariffs on USD 200bn worth of Chinese imports to 25% from 10% on Friday.
Notably, last summer, the Maine International Trade Center had said that there was a downfall in the exports from Maine to China by around 50%, affecting the Maine lobster industry majorly. Wade Merritt, President, Maine International Trade Center had said that lobster industry was down by 80%.
How Musician Tess Posner Reignited Her Passion For Music
Jay and Ronnie Gauthier Launch Podcast Titled “Win Anyway”
Religious Mezuzahs Installed by IDF on the Doorposts of Soldiers
2019’s Gun Violence Pushes Activist to make ‘A Safe Place’ for the Teens
Creality unveils the affordable LD-002R resin 3D printer
Meet Actor and Film Producer Hank Boone
SirLinksalot SEO Video Tutorials are One of the Best Online Sources to Level Up SEO Skills
How Music And Faith Helped Hip Hop Artist Chris Kinney Fight Depression
Germany and Portugal could be the most important European Cannabis Markets in 2020
Meet 2019’s Most Influential Economic Influencer and Activist Portia Antonia Alexis as She Discusses How Today’s CEO’s Can Approach Sustainability and Build Social Conscience
Trekking the El Bolsón besides Federico Magri
People Who had Asbestos Exposure are filing Mesothelioma Claims through Mesothelioma Lawyer
Supermodel Rudy Bundini Among Other Celebrities Live Streamed on the Time Square Billboard During Nasdaq Opening Ceremony
Perch Service Apartments is Providing Accommodation in Major Cities in India
A lot of People are Prefering to Run Location Independent Businesses to Travel Around the World
The Budding Comedian, Killa Kay is Getting Popular on Social Media for his Creative Comedy
- Entertainment5 months ago
Garena Free Fire Anniversary Update has Everything New
- Entertainment5 months ago
Caitlyn Jenner shared Baby Pictures of Kendall Accidentally on Kylie’s Birthday
- US6 months ago
Ikea, through BoKlok, to make Homes for People with Dementia
- Business4 months ago
Punch Associates Debt Consolidation Program is Not a Safe Choice for Customers
- Environment6 months ago
Goliath – the World’s Biggest Frog Builds its own Pond
- Lifestyle4 months ago
California Beer Voted the Best West Coast Beer of All time
- Environment5 months ago
Olympic Skier Bode Miller and Wife Morgan are Expecting Identical Twins this fall
- Health6 months ago
5 Years Old Ohio Girl Temporarily Paralyzed due to Tick Bite