US Wholesale Pricing Assessments Update: Impact of New Tariffs and Trade Policies
This week’s wholesale pricing assessments were published prior to President Trump’s latest announcement, which institutes a 90-day pause on the full implementation of reciprocal tariffs. During this period, all countries previously assigned tariff rates above 10% will instead be subject to a uniform 10% tariff. However, China is excluded from this pause and will now face an increased tariff of 125%, effective immediately.
Market sentiment and pricing behavior are expected to shift in the coming days as the industry digests these developments and reassesses exposure. Updates will be provided in the next reporting cycle as further clarity emerges.
Undercurrent News‘ week 15 (April 7-13) US wholesale price assessments for various key commodities are available on our new platform, to which UCN has just added new farmed Canadian and Norwegian farmed salmon, live lobster, wild Mexican shrimp, and octopus data.
New Tariffs Impacting US Importers
Steep new tariffs, especially on various Asian countries, are causing US importers to move up wholesale prices on various species in week 15.
Even though products shipped before April 5 and April 9 have until May 27 to avoid the first 10% and then full tariffs (for countries over 10%), importers in the US are seemingly reacting on some species already, as you can see on the US wholesale platform.
“The shrimp market sees substantial price premiums across nearly the whole category. Once the reality of the tariff situation hit, especially where they were higher, and replacement was more difficult, changes were sharper,” said Gary Morrison, UCN‘s head of business development, in his week 15 shrimp market wrap-up.
“The pangasius market has firmed as a result of both tight raw material supply and the new 46% tariff on Vietnamese-origin product,” said Lorin Castiglione, head of price reporting for North America with UCN, in her farmed whitefish price assessment and wrap-up.
Impact on Farmed Salmon and Whitefish
For farmed salmon, fresh D-trim fillets from Norway surged 12-13% week-on-week, with Chilean prices also up.
Prices for Canadian fillets were stable and whole fish were down, as Canadian seafood is still moving duty-free.
Challenges in Catfish and Tilapia Markets
US wholesale prices for Vietnamese pangasius fillets were up 9-10% w-o-w with Chinese tilapia rising up to 5% for the smaller size fillets. Prices for the smaller volume Chinese catfish surged 17-18% w-o-w.
Chinese-origin frozen tilapia is now subject to a cumulative 129% tariff, combining the original 25% from 2018 with the new 104% layer announced in April 2025.
Outlook for Seafood Industry
While prices for Spanish octopus are unchanged this week, importers are taking a bullish stance despite recent resistance to the elevated pricing. The broad and steep price increases on products from the Philippines and Indonesia are an additional backstop to this position,” said Morrison, in his cephalopod wrap-up and price assessment.
Conclusion
The recent changes in tariffs and trade policies have sent ripples through the US seafood industry, impacting various key commodities. It is crucial for market players to stay updated on these developments and adjust their strategies accordingly to navigate the evolving landscape.
Stay tuned for further updates on pricing assessments and market trends as the situation continues to unfold.
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UCN publishes its price assessments and market wrap-ups for crab, cephalopods, salmon, shrimp, frozen lobster, groundfish, farmed whitefish, and scallops every Wednesday. On Monday, UCN publishes a market pulse, giving a sense of the week ahead.
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