Canada’s East Coast seafood industry is relieved as the federal government has decided to eliminate U.S. fish and seafood products from the list of counter-tariffed items. The government made this adjustment following feedback received, removing these products after initially imposing counter-tariffs on $27.6 billion worth of U.S. goods. This retaliatory measure was in response to new 50 percent tariffs imposed by the U.S. over the weekend when trade negotiations stalled.
The initial list of counter-tariffs included various seafood products taxed at a 25 percent rate. Industry leaders expressed concerns about the potential devastating impact these tariffs could have on the seafood business, which had not been involved in the trade conflict until the recent announcement.
Gilles Thériault, former president of the New Brunswick Crab Processors Association, stated that the entire Atlantic fisheries industry is relieved by the removal of the tariff. Nat Richard, executive director of the Lobster Processors Association representing 25 processors across the Maritimes, highlighted the heavy integration of the industry across the border. American-caught lobster is often processed in Canadian plants during the off-season before being exported back to the U.S.
According to Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, almost every seafood item imported by Canada was initially on the retaliatory tariff list, posing a significant threat to the industry. Joanne Losier, executive director of New Brunswick Crab Processors, expressed concern over potential tit-for-tat tariffs and emphasized the importance of protecting Canada’s snow crab exports to the U.S.
Despite the removal of some tariffs, the federal government reaffirmed its commitment to maintaining a proportional response to U.S. products. Certain items, including copper wire and charcoal, will face a 50 percent tariff starting September 8 to ensure a dollar-for-dollar impact. Minister of Finance François-Philippe Champagne emphasized that the decision to remove seafood tariffs was made in the best interest of Canada, following consultations with industry representatives and Canadians.
