Canada’s East Coast seafood industry is relieved as the federal government has decided to exclude U.S. fish and seafood products from its list of counter-tariffed items. The government made this adjustment late Wednesday night following feedback received.
This change came after the government had initially imposed counter-tariffs on $27.6 billion worth of U.S. goods in response to the U.S. imposing new 50 per cent tariffs over the weekend. The tariffs targeted various goods, including seafood products taxed at 25 per cent.
Industry leaders expressed concerns that the countermeasures could have severely impacted the seafood business, which was not previously involved in the trade war until the recent announcement.
Gilles Thériault, former president of the New Brunswick Crab Processors Association, stated that the Atlantic fisheries industry is relieved by the removal of the tariff. Nat Richard, executive director at Lobster Processors Association, highlighted the industry’s heavy cross-border integration.
Nat Richard explained that the integration involves American-caught lobster being processed in Canada during the off-season before being exported back to the U.S. for sale. A 25 per cent tariff would have made processing in Canada economically unviable, potentially leading to the closure of numerous processing plants and job losses.
Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, warned that nearly all seafood items imported by Canada were initially listed for retaliatory tariffs, which could have had a widespread impact on the industry.
Joanne Losier, executive director of New Brunswick Crab Processors, expressed concerns about the Canadian seafood industry becoming a target for tit-for-tat tariffs. Over 90 per cent of Canada’s snow crab is sold to the U.S., and Losier hopes it remains tariff-free on the American side.
Nova Scotia Premier Tim Houston praised the federal government’s decision to remove seafood tariffs after industry representatives raised concerns earlier in the week. Despite the tariff rollback, the government stated it would continue its response to U.S. products at an equivalent rate.
Finance Minister François-Philippe Champagne explained that the decision to remove the tariffs was made in Canada’s best interest after listening to Canadians, without directly addressing potential implications on U.S.-Canada relations.
