Seafood industry organizations and companies expressed mixed reactions to the election of Donald Trump as U.S. president on 5 November, anticipating significant impacts on both the U.S. and global economy. Concerns centered around proposed policies on tariffs, inflation, and immigration and their effects on global seafood trade.
PanaPesca USA, based in Pembroke, Massachusetts, congratulated Trump, praising his values of strength and transparency. Founder Michael Davis expressed optimism that a Trump presidency would alleviate rising fuel and food costs and reduce wasteful spending, boosting overall consumer confidence. However, he noted challenges such as increased tariffs, including a 25% tariff on squid imports, which negatively affected the industry.
Thue Holm, of Aquafounders Capital and Atlantic Sapphire, highlighted the potential for the Trump administration to support the growth of recirculating aquaculture system (RAS) farms by addressing regulatory and construction challenges, which could make manufacturing projects more viable in the U.S.