The seafood industry on Canada’s East Coast is relieved as the federal government has excluded U.S. fish and seafood products from its counter-tariff list. The adjustment was announced late Wednesday night following feedback received by the government. This decision came after the imposition of new 50 per cent tariffs by the U.S. on $27.6 billion worth of goods when trade talks collapsed over the weekend.
Initially, many seafood products were included on the list, subject to a 25 per cent tax rate. Industry leaders, such as Gilles Thériault, former president of the New Brunswick Crab Processors Association, expressed relief at the removal of the tariff, highlighting how integral the industry is across borders.
Nat Richard, the executive director at Lobster Processors Association, emphasized the interconnectedness of the industry, particularly in the processing of American-caught lobster in Canadian plants during the off-season. The imposition of a 25 per cent tariff would have made processing economically unviable in Canada, potentially leading to the closure of numerous plants employing hundreds of workers.
Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, raised concerns about the broad impact of retaliatory tariffs on almost all seafood items imported by Canada. Joanne Losier, executive director of New Brunswick Crab Processors, feared that such tariffs could invite further retaliation and harm the Canadian seafood industry.
Over 90 per cent of Canada’s snow crab exports go to the U.S., which has not yet imposed tariffs on this product. Nova Scotia Premier Tim Houston, along with industry representatives, engaged with the federal government to address these concerns, ultimately welcoming the decision to remove seafood tariffs.
While some measures were rolled back, the government reiterated its commitment 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 stated that the decision to update the list was made in the best interest of Canada, reflecting the government’s responsiveness to public feedback.