The seafood industry on Canada’s East Coast is feeling relieved as the federal government has removed U.S. fish and seafood products from the list of items subjected to counter-tariffs. This decision, announced late Wednesday night, was made in response to feedback received. The adjustment came after the government imposed counter-tariffs on $27.6 billion worth of U.S. goods following the U.S.’s imposition of 50 per cent tariffs on similar goods over the weekend due to failed trade talks.
The original list included many seafood products taxed at a 25 per cent rate. Industry leaders were concerned about the potentially devastating impact on the seafood business, which had not been part of the trade war until the recent announcement. Gilles Thériault, former president of the New Brunswick Crab Processors Association, expressed relief that the tariffs on U.S. seafood were removed.
The industry’s integration across the border was highlighted by Nat Richard, the executive director of the Lobster Processors Association representing 25 processors in the Maritimes. Richard explained the significant impact the 25 per cent tariffs would have had on Canadian processing, making it economically unfeasible. He warned that plant closures and job losses were likely if the tariffs had been implemented.
Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, emphasized the broad impact retaliatory tariffs would have had on almost every seafood item imported by Canada. Joanne Losier, executive director of New Brunswick Crab Processors, expressed concerns about potential tit-for-tat tariffs and the industry being targeted unfairly. She stressed the importance of maintaining tariff-free snow crab exports to the U.S.
Despite the removal of seafood tariffs, the federal government reiterated its commitment to matching U.S. tariffs dollar-for-dollar. Additional products like copper wire, charcoal, plaster sheets, and tiles were added to the tariff list to ensure an equal impact. Minister of Finance François-Philippe Champagne explained that the decision to remove seafood tariffs was made in the best interest of Canada after listening to feedback, without directly addressing the potential message to the White House.