Canada’s East Coast seafood industry stakeholders are relieved following the federal government’s decision to exclude U.S. fish and seafood products from the list of counter-tariffed items. The adjustment was announced late Wednesday in response to feedback. This change came after the government levied counter-tariffs on $27.6 billion worth of U.S. goods, following the U.S.’s imposition of new 50% tariffs when trade talks collapsed.
The initial list included many seafood products subject to a 25% tax. Industry leaders expressed concerns that these measures could severely impact the seafood business, which had not been involved in the trade dispute until the recent announcement. Gilles Thériault, former president of the New Brunswick Crab Processors Association, expressed relief at the removal of the tariffs, highlighting the industry’s interdependence across the border.
Nat Richard, executive director of the Lobster Processors Association, emphasized the integration of the industry and the reliance on American-caught lobster for processing in Canada. The potential 25% tariffs would have made Canadian processing economically unviable, risking the closure of numerous plants employing hundreds of workers.
Apart from lobster, Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, warned that nearly all seafood imported by Canada faced retaliatory tariffs, posing a significant threat to the industry. Joanne Losier, executive director of New Brunswick Crab Processors, expressed concerns about potential tit-for-tat tariffs and the negative impact on Canada’s snow crab exports to the U.S.
Despite the removal of some tariffs, the federal government maintained a parity response to U.S. products. Certain items, including copper wire and charcoal, were added to the counter-tariff list to uphold this approach. Minister of Finance François-Philippe Champagne stated that the decision was made in the interest of Canada following feedback from Canadians, emphasizing the importance of the country’s stance in the trade dispute.
