Canada’s East Coast seafood industry is relieved as the federal government has excluded U.S. fish and seafood products from its list of counter-tariffed items. This decision, announced late on Wednesday night, was made in response to feedback received.
The move came after the imposition of counter-tariffs on $27.6 billion worth of U.S. goods by Canada, following the U.S.’s introduction of 50% tariffs on a similar range of goods when trade negotiations broke down. The initial list of goods subject to counter-tariffs included many seafood products taxed at a 25% rate.
The exclusion of U.S. seafood products from the counter-tariff list has been welcomed by industry leaders who were concerned about the potential devastating impact on the seafood business. Gilles Thériault, former president of the New Brunswick Crab Processors Association, expressed relief at the removal of the tariff.
Nat Richard, executive director of the Lobster Processors Association representing 25 processors in the Maritimes, highlighted the significant integration of the industry across the U.S.-Canada border. The short Canadian lobster fishing season sees American-caught lobster processed in Canadian plants before being exported back to the U.S.
Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, raised concerns about the broad impact of retaliatory tariffs on seafood imports. Joanne Losier, executive director of New Brunswick Crab Processors, emphasized worries about potential tit-for-tat tariffs targeting the Canadian seafood industry.
Despite the removal of some measures, the federal government stated its commitment to maintaining a proportional response to U.S. products. Additional items like copper wire and charcoal have been included on the counter-tariff list to uphold the dollar-for-dollar impact. These products will face a 50% tariff starting September 8.
Minister of Finance François-Philippe Champagne noted that the government’s decision was based on feedback from Canadians and emphasized that it was in Canada’s best interests. Champagne did not directly address the implications of the move on the White House during a news conference.
