The Trump administration recently announced two major actions to assist the U.S. commercial aquaculture and fishing industries. President Trump’s Executive Order on Promoting American Seafood Competitiveness and Economic Growth1 (Order) aims to increase seafood production by streamlining aquaculture regulatory permitting processes and reducing burdens on the fishing industry. The Order has major implications for offshore aquaculture in particular.
In a separate action, the Secretary of Commerce detailed how $300M in CARES Act2 funding intended to address impacts to the seafood industry caused by COVID-19 will be distributed.
This alert outlines the impacts of the Order on aquaculture and fisheries, as well as describes the initial details for distribution of CARES Act funds to aquaculture and fishing businesses…
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