Industry leaders in Canada’s East Coast seafood sector are expressing relief as the federal government has eliminated U.S. fish and seafood products from its list of counter-tariffed items. The adjustment, announced late Wednesday night, was made in response to feedback. This decision followed the imposition of counter-tariffs on $27.6 billion worth of U.S. goods by Canada, in retaliation for the U.S. imposing new 50 per cent tariffs on similar products over the weekend. Initially, many seafood products were slated for a 25 per cent tax.
The move to remove U.S. seafood from the counter-tariff list was welcomed by the Atlantic fisheries industry, which was concerned about the potential devastating impact of the tariffs. The industry is highly interconnected across the border, with American-caught lobster often processed in Canadian plants during the off-season before being exported back to the U.S. for sale.
Executive directors in the seafood sector emphasized the economic implications of the tariffs, with Nat Richard from the Lobster Processors Association stating that a 25 per cent tariff would have made processing in Canada unfeasible. The Nova Scotia Seafood Alliance’s Kris Vascotto highlighted the broad impact the retaliatory tariffs would have had on the industry.
Joanne Losier from the New Brunswick Crab Processors expressed concerns about the spotlight on the Canadian seafood industry and the potential for further retaliatory tariffs from the U.S. Over 90 per cent of Canada’s snow crab is exported to the U.S., and industry representatives hope to avoid additional tariffs from the American side.
While some measures were rolled back, the federal government stated it would maintain a dollar-for-dollar response to U.S. products. Additional items, such as copper wire and charcoal, have been added to the list of counter-tariffed items to ensure this parity. Minister of Finance François-Philippe Champagne reiterated that the decision was made in Canada’s best interests, emphasizing that it was the right course of action.
