After receiving feedback, Canada’s seafood industry on the East Coast is relieved as the federal government has excluded U.S. fish and seafood products from its list of counter-tariffed items. The government made this decision following the imposition of new 50 per cent tariffs by the U.S. over the weekend, prompting Canada to counter with tariffs on $27.6 billion worth of U.S. goods. Originally, many seafood products were included in the list, taxed at a 25 per cent rate.
Industry leaders expressed concern over the potential devastating impact these countermeasures could have had on the seafood business, which had not previously been involved in the trade war. Gilles Thériault, former president of the New Brunswick Crab Processors Association, emphasized the relief felt across the Atlantic fisheries industry due to the removal of the tariff.
Nat Richard, executive director at the Lobster Processors Association, highlighted the significant integration of the industry across the border, with American-caught lobster often processed in Canadian plants before being exported back to the U.S. Richard pointed out that the 25 per cent tariffs would have rendered processing in Canada economically unfeasible, potentially leading to the closure of several plants employing hundreds of workers.
Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, underscored the broad impact the retaliatory tariffs would have had on the industry, affecting nearly all seafood imports. Joanne Losier, executive director of New Brunswick Crab Processors, expressed concerns about potential retaliatory measures and the negative spotlight on the Canadian seafood industry.
Nova Scotia Premier Tim Houston, in conjunction with industry representatives, raised concerns with the federal government regarding the seafood tariffs, ultimately welcoming the decision to remove them from the list. Despite this adjustment, the government reaffirmed its commitment to maintain a proportional response to U.S. products. Additional items, including copper wire and charcoal, have been added to the counter-tariff list to uphold the dollar-for-dollar impact, set to take effect on September 8.
Minister of Finance François-Philippe Champagne emphasized that the government’s decision was made in Canada’s best interests after listening to Canadians, without directly addressing the implications for the White House.
