Thailand is already said to be seeing the benefit of the tariffs on China, even before they have come into play.
According to a report from the Bangkok Post dated July 24, Thailand is seeing an increase in tuna raw material imports from China as exports that would normally go to the US are being “dumped”.
The Thai Tuna Industry Association said that Chinese tuna imports could rise by 5% to 750,000-800,000t as Chinese prices drop 15-20% y-o-y to a projected range of $1,000/t to $1,500/t.
As a result, Thailand plans to expand the value of its own tuna exports from THB 80.5bn ($2.4bn) in 2017 to THB 90bn in 2018.
Also, Ecuadorean tuna firms, which account for over 60% of volumes fished in the Eastern Pacific Ocean, are hoping that a new commercial agreement between their country and the US.
The trade agreement between the two countries is currently being negotiated and could slash to zero percent the export tariff for Ecuadorean tuna into the US. However, the trade negotiations are expected to take months.
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