May 21, 2020 - Economy & Business

Seafood industry struggles as coronavirus keeps restaurants closed

Photo: Gotham/Getty Images

The seafood industry continues to struggle due to the coronavirus, even as more Americans are buying fish and shellfish at the grocery store, the Wall Street Journal reports.

Why it matters: The rise in seafood sales at the grocery store isn't enough to offset the economic loss the industry is dealing with. Nearly 70% of seafood sold is eaten at restaurants, which are either closed or are open in a limited capacity.

The state of play: Fishermen are doing what they can to deal with the losses, either by storing what they can in freezers or even destroying some of it. Meanwhile, companies are trying to ensure the virus doesn't spread to its processing plants, as it has in some meatpacking plants.

  • Seafood sales at grocery stores were $1.4 billion for the four weeks ending May 9, a 40% increase from a year ago, according to WSJ.
  • The federal stimulus package allocated $300 million for the seafood industry, but companies are saying it's not enough to help with the economic blow.

Go deeper: How the coronavirus is disrupting the global food supply

Go deeper

Updated 8 mins ago - Politics & Policy

Trump says RNC is looking outside of North Carolina for convention site

North Carolina Gov. Roy Cooper in 2018. Photo: Sara D. Davis/Getty Images

President Trump tweeted on Tuesday night that because of ongoing coronavirus restrictions in North Carolina, the Republican Party will be "forced to seek another state" to host its convention in August.

The big picture: The late-night tweet came after North Carolina Gov. Roy Cooper (D) told convention organizers earlier Tuesday that Republicans should plan for a "scaled-down convention with fewer people, social distancing and face coverings" given the impact of the pandemic.

Updates: George Floyd protests continue past curfews

Police officers wearing riot gear push back demonstrators outside of the White House on Monday. Photo: Jose Luis Magana/AFP via Getty Images

Protests over the death of George Floyd and other police-related killings of black people continued Tuesday across the U.S. for the eighth consecutive day, prompting a federal response from the National Guard, Immigration and Customs Enforcement and Customs and Border Protection.

The latest: Even with early curfews in New York City and Washington, D.C., protesters are still out en masse. Some protesters in D.C. said they were galvanized by President Trump's photo op in front of St. John's Church on Monday and threat to deploy U.S. troops in the rest of country if violence isn't quelled, NBC News reports.

Updated 1 hour ago - Politics & Policy

Trump backs off push to federalize forces against riots

Photo: Brendan Smialowski /AFP via Getty Images

A day after threatening to federalize forces to snuff out riots across the country, the president appears to be backing off the idea of invoking the Insurrection Act, sources familiar with his plans tell Axios.

What we're hearing: Aides say he hasn’t ruled out its use at some point, but that he's “pleased” with the way protests were handled last night (apart from in New York City, as he indicated on Twitter today) — and that for now he's satisfied with leaving the crackdown to states through local law enforcement and the National Guard.