Canada’s East Coast seafood industry is relieved as the federal government has removed U.S. fish and seafood products from the list of counter-tariffed items. This decision, announced late Wednesday night, follows feedback and adjustments made by the government. The move came after the government imposed counter-tariffs on $27.6 billion worth of U.S. goods in response to new 50 per cent tariffs imposed by the U.S. over the weekend. Initially, many seafood products were included in the list, subjected to a 25 per cent tax rate.
Industry leaders expressed concerns over the potential devastating impact of these countermeasures on the seafood business, which was unexpectedly caught up in the trade war. 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, emphasized the heavy integration of the industry across the border.
The potential 25 per cent tariffs could have made processing in Canada economically unviable, according to Richard. This could have led to early closures of numerous processing plants, affecting hundreds of employees. Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, highlighted the broad impact that retaliatory tariffs could have had on nearly every seafood item imported by Canada.
Joanne Losier, executive director of New Brunswick Crab Processors, expressed concerns about the possible repercussions on the Canadian seafood industry and the introduction of tit-for-tat tariffs by the U.S. Over 90 per cent of Canada’s snow crab is sold to the U.S., and there are hopes to maintain tariff-free status on the American side.
Nova Scotia Premier Tim Houston, in a statement to CBC News, commended the federal government’s decision to drop the seafood tariffs following industry concerns. Despite the removal of some measures, the government affirmed its commitment to maintain a proportional response to U.S. products. Additional items, including copper wire and charcoal, will be added to the list of counter-tariffed items, set to be tariffed at 50 per cent starting September 8.
Finance Minister François-Philippe Champagne stated that the government’s decision was in the best interest of Canada, emphasizing the importance of listening to Canadians in making policy changes. The government aims to uphold a balanced response to trade disputes while considering the impacts on domestic industries.
