A plan gaining momentum in the United States Congress to create a tax on imported goods is being opposed by portions of the seafood industry that fear it could result in higher costs and prices.
The border adjustment provision is being pushed by Republicans in the U.S. House of Representatives, who have been encouraged by President Donald Trump’s calls for renationalization and regrowth of U.S. industry. Advocates see the tax a means to encourage businesses to retain and grow jobs and production inside the U.S. However, for the U.S. seafood industry and other commodity-based trades, the difficulty of replacing overseas product with domestically produced goods is a difficult – if not impossible – task…