logo
Our seafood can use US tariff volatility to create competitive edge

Our seafood can use US tariff volatility to create competitive edge

I was in New York for Tartan Week on the day of the initial tariff declarations and spoke with a big-hitter in our industry – a fish market servicing around 80% of the city's Michelin-star restaurants. They deal in quick turnover produce, with immediate exposure to price hikes.
So, while the 90-day reprieve may signal some relief, buyers like our friends in NYC will be recovering from the immediate shockwaves, assessing the impact of blanket baseline tariffs – and looking ahead with trepidation around what may happen next.
For our domestic seafood industry, the goalposts also changed quickly. We moved from a situation where the UK's minimum 10% tariff had the potential to create a real competitive advantage, as competitor countries were handed higher rates, to a more level playing field with baseline tariffs for the majority.
I believe Scotland's seafood industry can utilise our competitive edge in the face of any future volatility. We've long recognised the significance of the US market for Scottish seafood producers, working hard to facilitate strong relationships with American buyers and bringing Scottish seafood to the fore at events like Seafood Expo North America in Boston.
The feedback we get is consistently positive – the reputation of Scotland's seafood, in terms of world-class quality and consistency of supply, is well established.
As an industry, we have also become more agile and reactive to market demands and external challenges, like creating added-value products to suit specific locations, and fostering incredibly strong ties with other key seafood markets including Asia and the Middle East, plus our neighbours in Europe, who remain our biggest export customers.
Just last week, my colleague was in Japan with Scotland's Minister for Business and Scottish Enterprise's international team – where Scottish mackerel has experienced a ten-fold growth in market share in four years. Reaching out globally allows our industry to showcase its quality, develop new market opportunities, and most importantly at times like these, spread trading risks.
However, we deeply value our strong trade ties with the US and are confident our neighbours across the pond value the quality Scotland's seafood industry brings to the table. We also recognise the Secretary of State for Business and Trade, his team and wider UK Government have been working to mitigate tariffs, remaining committed to a future trade deal with the US. This could put us on the front foot again.
As the impact of the tariffs becomes clearer, we will listen, engage and work closely with industry and Governments here and abroad to navigate any challenges and sustain Scotland's position in the US market – standing on our reputation for quality to retain our competitive advantage in the face of any volatility.
Matthew Hurst is head of trade marketing for the Americas, Seafood Scotland
Agenda is a column for outside contributors. Contact: agenda@theherald.co.uk

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Defense rests case in second trial of Karen Read for Boston police officer boyfriend's death
Defense rests case in second trial of Karen Read for Boston police officer boyfriend's death

The Independent

time33 minutes ago

  • The Independent

Defense rests case in second trial of Karen Read for Boston police officer boyfriend's death

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story. The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it. Your support makes all the difference.

SNP warned not to ‘squander' £9.1bn boost after Chancellor Rachel Reeves unleashed £300bn UK-wide splurge
SNP warned not to ‘squander' £9.1bn boost after Chancellor Rachel Reeves unleashed £300bn UK-wide splurge

Scottish Sun

time35 minutes ago

  • Scottish Sun

SNP warned not to ‘squander' £9.1bn boost after Chancellor Rachel Reeves unleashed £300bn UK-wide splurge

LABOUR challenged the SNP not to 'squander' a £9.1billion boost to Holyrood's coffers after the Chancellor turned on the taps at her spending review. Rachel Reeves unveiled a £300billion UK-wide splurge in a bid to appease voters after her party's rocky first year in power. 2 Scottish Labour leader Anas Sarwar labelled the extra money as 'game-changing' 2 Finance Secretary Shona Robison claimed that if Ms Reeves was being fair, she'd have sent an extra £1bn a year to Holyrood Announcing her long-term spending plans for the years from 2026, she confirmed major investment in defence and nuclear power plus a three per cent above-inflation increase to NHS spending down south. Ms Reeves admitted 'too many people in too many parts of our country' were yet to feel the benefits of the 'change' they voted for when Labour swept back into power last July. The knock-on effect of the Chancellor's funding pledges means a massive cash boost for the Scottish Government to spend as it sees fit. Nats ministers will get an average annual boost of £2.4billion on day-to-day spending and £400million for major projects in the years to 2029. That's on top of the £4billion-plus yearly bonus delivered last October from the first Budget of Sir Keir Starmer's government. Scottish Labour leader Anas Sarwar labelled the extra money as 'game-changing'. He said: 'These plans will bring billions of pounds of investment to Scotland — on top of the record Budget settlement. 'But the massive increase in funds must not be squandered by the SNP government, which has a track record of waste and failure.' Scottish Secretary Ian Murray said voters would face a clear choice at next May's Holyrood election. He said: 'It's either a third decade of the SNP, who've squandered their opportunity over the last 18 years and squandered the £4.9billion extra the UK Government gave earlier. Top 5 takeaways from Spending review 'Or a government that's committed to investing in public services and infrastructure, renewing Scotland and working with a UK Labour government to deliver jobs right across the country.' But experts warned the extra cash could be swallowed by Scottish Government pledges such as pay hikes for public sector workers and higher devolved benefits. FUEL AID HOPE NATS' Finance Secretary indicated the SNP might dish out more cash to pensioners after Labour's winter fuel payment U-turn. But Shona Robison refused to commit to passing on all of an estimated extra £120million from Westminster to struggling Scots OAPs. Labour has now said older people down south with an income below £35,000 will receive the handouts, following an outcry when they were axed. Experts reckon the extra funds now due to Holyrood will be enough to cover £100 payments Nats have already pledged to pensioners. Asked if the payments could be increased, Ms Robison said: 'There's other things we need to fund as well which is why we're looking at the options. We'll deliver the best deal for pensioners.' Nats ministers are already set to spend £2billion more on welfare by the end of the decade than they receive from Westminster. But SNP Finance Secretary Shona Robison claimed that if Ms Reeves was being fair, she'd have sent an extra £1billion a year to Holyrood. She said: 'This review is business as usual from the UK Government, which is yet again treating Scotland as an afterthought and failing to provide the funding we need. 'Had our resource funding for day-to-day priorities grown in line with the UK Government's overall spending, we'd have £1.1billion more to spend on our priorities over the next three years. In effect, Scotland has been short-changed by more than a billion pounds.' But despite the extra cash, an expert warned SNP policy decisions mean tax rises or spending cuts may be needed to balance Scotland's books by 2027/28. David Phillips, associate director at the Institute for Fiscal Studies, said the winner of next year's election 'will face tough choices' due to increased NHS, benefits, and public sector pay costs. Earlier, Ms Reeves told the Commons her plans were the start of Labour's project to 'renew Britain'. She vowed to back the Acorn carbon capture project in Aberdeenshire. But official documents raised questions about how the scheme, to store gas emissions under the North Sea, would be funded. NUCLEAR SWIPE AT FM & CO RACHEL Reeves slammed the SNP's opposition to arms factories and nuclear power as she confirmed defence spending hikes. The Chancellor announced an £11billion boost for the armed forces plus a £600million increase for security and intelligence agencies. She also confirmed a £250million redevelopment of the Faslane base on the Clyde, where new nuclear submarines will be stationed. It means defence spending will be upped to 2.6 per cent of GDP by April 2027. Ms Reeves blasted Nats' opposition to nuclear weapons and munitions. She said: 'Investment in Scotland, jobs in Scotland, defence for the United Kingdom, opposed by the Scottish National Party, delivered by this Labour Government.' Sir Keir Starmer previously set out the UK Government's Strategic Defence Review in a speech in Glasgow last week. Nats and Labour clashed as the No10 chief claimed Nats' goal of scrapping Trident nuclear missiles would make Scotland less safe. Sir Keir said: 'Imagine the effect that would have on the safety and security of the UK and of Scotland.' They concluded: 'A final investment decision will be taken later.' Scottish Tory finance spokesman Craig Hoy warned UK taxes will probably have to rise at the Budget this autumn. He said: 'This spend-now-tax-later statement will offer no comfort to those betrayed by the first year of a disastrous Labour Government. 'Taxes remain sky-high and the Chancellor will almost certainly have to hike them further to pay for her spending plans, breaking yet another of her promises.' Mr Hoy added: 'Scots are saddled with two failing, high-tax, left-wing governments — one at Westminster and the other at Holyrood.'

Indiana Stone's £2,000 jewellery giveaway
Indiana Stone's £2,000 jewellery giveaway

Scotsman

timean hour ago

  • Scotsman

Indiana Stone's £2,000 jewellery giveaway

We are giving away up to £2,000 worth of jewellery from our Scottish Gold collection to the 110th person to come through the door on the day. Over £500 of additional prize give-aways throughout the day featuring Scottish gemstone products and jewellery. Free drinks and birthday cake at 2pm to shop customers. 10% off, all day, on all Silver jewellery. NEW SCOTTISH SAPPHIRE COLLECTION TO GO ON DISPLAY Our Managing Director, Adam McIntosh, proposed to his wife with Scottish Sapphire as featured on the BBC one show. It's been 30 years since the last Scottish Sapphire was found and polished. Scottish sapphires are one of the rarest gemstones in the world with prices fetching up to £10,000 per ct. Adam bid on a rare opportunity when a rough Scottish Sapphire came up for sale at Bonham's auction house in November 2021 and secured a rough uncut stone for £100! He now sells his Scottish Sapphire featured jewellery back to Bonhams auction house. Since then, Adam has been painstakingly cutting and polishing his Scottish Sapphire; our collection now equates to over 50 gemstones which are featured in a new dedicated cabinet in our Royal Mile shop at 5 High Street, Edinburgh. This unique display of our rarest gemstone also tells the long tale of Scottish sapphires, their history and formation. Our 10th Birthday celebration on Saturday 14th June will showcase an extraordinary ring - an astonishing 3.3ct flawless Scottish sapphire, with upcycled diamonds and crafted with pure Scottish hand-panned Gold. It's called the Trinity Ring; due to its ornate Celtic Scottish Gold craftsmanship and the 3.3ct stone with 3 being recognised as an auspicious number in Celtic traditions. Scottish sapphires are 1000s of times rarer than diamonds with only a few gem bearing crystals found to date compared to the 26,000 kgs of diamonds that are mined every year! The main market for our Scottish sapphires is engagement rings; our local Edinburgh customers want to propose with something that is rare, unique and has fully traceable Scottish provenance. Scottish Sapphires were found through a chance discovery on The Isle of Lewis in the 1980s when an estate worker was carving out the rock for a new stalking track. A massive world class 242ct Sapphire and an additional shard were found by the late Mr. Ian Combe. The land was quickly sealed off with red tape and later designated as an SSSI. No further mining was allowed and there are no known other deposits of large sapphire crystals in Scotland. BACKGROUND to TWO SKIES Founded by Adam McIntosh in 2004, he started trading from a wheelbarrow on the Royal Mile 20 years ago. Adam was born in Edinburgh and spent his early childhood in Papua New Guinea Living with local tribal people. As reported by the Edinburgh Evening News at the time, at 18 Adam left home and travelled the world looking for rare Gemstones. He risked his life; climbing down mineshafts, getting chased by mafia and had to be escorted by armed guards into dangerous and remote locations. After two years of travelling the world, Adam came to realise that the best gemstones are all under his feet in Scotland. Adam was named 'Two Skies' by a Native American tribe. The tribal leader declared Adam would always have a sky looking over him as he travelled and another sky in his homeland ofScotland. Two Skies specialises in Scottish Gemstone jewellery and Scottish gold. We are so lucky in Scotland; our small landmass holds a huge diversity and volume of world class gemstones such as sapphires, beryl, tourmaline, topaz and aquamarine. The variety of world class semi-precious gemstones in Scotland includes garnet, amethyst, citrine and our national gemstone - Cairngorm, a variety of Smokey quartz. 1 . Contributed Adam 'Two Skies' emerging from a Moonstone mine in Sri Lanka Photo: Submitted Photo Sales 3 . Contributed The 'Trinity Ring' created by Two Skies - an astonishing 3.3ct Scottish Sapphire, with upcycled Diamonds and crafted with pure hand-panned Scottish Gold. Photo: Submitted Photo Sales 4 . Contributed Adam 'Two Skies' McIntosh with a rare uncut Scottish Sapphire Photo: Submitted Photo Sales

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store