In Canada’s East Coast seafood industry, there is a sense of relief as the federal government has decided to exclude U.S. fish and seafood products from the list of items subject to counter-tariffs. The government made this adjustment following feedback received, just a day after imposing 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.
The initial list of goods subject to tariffs included many seafood products taxed at a 25 per cent rate. Industry leaders were concerned about the potential devastating impact these countermeasures could have on the seafood business, especially since the industry had not been previously involved in the trade war.
Gilles Thériault, former president of the New Brunswick Crab Processors Association, expressed relief that the tariff on U.S. seafood was removed from the list. Nat Richard, executive director at the Lobster Processors Association, explained that the industry is heavily interconnected across the border, with American-caught lobster often processed in Canada before being shipped back to the U.S.
The fear was that a 25 per cent tariff would make processing in Canada economically unviable, potentially leading to the closure of numerous processing plants employing hundreds of workers. Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, highlighted the broad impact the retaliatory tariffs would have had on the seafood industry.
Joanne Losier, executive director of New Brunswick Crab Processors, expressed concern that the tariffs could draw unwanted attention to the Canadian seafood industry, potentially resulting in further retaliatory measures from the U.S. Over 90 per cent of Canada’s snow crab is exported to the U.S., and there is hope that it remains unaffected by tariffs.
Nova Scotia Premier Tim Houston, along with industry representatives, had raised concerns about the seafood tariffs with the federal government, and they were pleased with the decision to remove them from the list. Despite the removal of some measures, the government stated its intention to maintain a proportional response to U.S. products.
Certain products such as copper wire, charcoal, plaster sheets, and tiles have been added to the counter-tariff list, ensuring a dollar-for-dollar impact. These items will be subject to a 50 per cent tariff starting on September 8. Finance Minister François-Philippe Champagne emphasized that the decision to update the list was made in the best interest of Canada, reflecting the government’s responsiveness to the concerns of Canadians.