ASMI PLANS FOR CHINA TARIFF IMPACT
ASMI plans for China tariff impact – Alaska’s seafood industry is exploring strategies to reduce damage from the Trump administration’s trade dispute with China, reports the Washington Times.
The Alaska Seafood Marketing Institute plans to explore how Alaska can enter additional markets to expand the state’s seafood brand.
The U.S. raised tariffs on $200 billion in Chinese imports from 10% to 25%.
The institute says China is the largest export market and re-processor of Alaska seafood, with about $989 million worth of sales to China in 2017 alone.
The institute is exploring both traditional and non-traditional markets. A survey of Alaska seafood businesses found 65% immediately lost sales after tariffs were implemented, 50% reported sales delays and 36% reported lost customers in China.
ASMI is a public-private partnership between the State of Alaska and the Alaska seafood industry established to foster economic development of a renewable natural resource.
ASMI is playing a key role in the repositioning of Alaska’s seafood industry as a competitive market-driven food production industry.
Its work to boost the value of Alaska’s seafood product portfolio is accomplished through partnerships with retail grocers, foodservice distributors, restaurant chains, foodservice operators, universities, culinary schools, and the media.
ASMI conducts consumer campaigns, public relations and advertising activities, and aligns with industry efforts for maximum effectiveness. ASMI also functions as a brand manager of the Alaska Seafood family of brands.