Canada’s seafood industry on the East Coast is relieved as the federal government has excluded U.S. fish and seafood products from the list of counter-tariffed items. The government made this announcement on Wednesday night, citing feedback as the reason for the adjustment. This decision followed the imposition of counter-tariffs on $27.6 billion worth of U.S. goods by Canada in response to new 50 per cent tariffs imposed by the U.S. over the weekend.
Initially, many seafood products were included on the tariff list at a 25 per cent tax rate. Industry leaders were concerned about the potential negative impact of these countermeasures on the seafood business, which had not been involved in the trade war until recently. Gilles Thériault, former president of the New Brunswick Crab Processors Association, expressed relief that the tariff on U.S. seafood had been removed.
The seafood industry’s close integration across the border was highlighted by Nat Richard, executive director at Lobster Processors Association. Richard explained that American-caught lobster is often sent to Canadian processing plants 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 unfeasible, potentially leading to the closure of numerous plants and job losses.
Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, pointed out that almost all seafood items imported by Canada were initially included in the retaliatory tariff list, indicating a widespread impact on the industry. Joanne Losier, executive director of New Brunswick Crab Processors, expressed concerns about potential repercussions on the Canadian seafood industry and the risk of further tit-for-tat tariffs.
Despite the removal of seafood tariffs, Canada remains committed to maintaining a proportional response to U.S. products. Additional items such as copper wire and charcoal have been added to the tariff list to ensure a dollar-for-dollar impact. Minister of Finance François-Philippe Champagne emphasized that the decision to update the list was made in Canada’s best interests, reflecting the government’s responsiveness to the concerns raised by Canadians.
