Canada’s East Coast seafood industry is experiencing relief as the federal government excluded U.S. fish and seafood products from counter-tariffs. The decision, revealed late Wednesday, was made following feedback and adjustments to the list of goods subject to counter-tariffs. This change followed the initial imposition of counter-tariffs on $27.6 billion worth of U.S. goods in response to new 50 per cent tariffs imposed by the U.S. during trade negotiations breakdown.
Initially, many seafood products were included in the list, subject to a 25 per cent tax. Industry leaders voiced concerns that these measures could have severely impacted the seafood business, which had not been involved in the trade dispute until the recent announcement.
Gilles Thériault, former president of the New Brunswick Crab Processors Association, expressed relief on behalf of the Atlantic fisheries industry over the removal of the tariff. Nat Richard, executive director at Lobster Processors Association, highlighted the extensive integration of the industry across the border, emphasizing the economic challenges that a 25 per cent tariff would have posed for Canadian processing plants.
Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, warned about the potential broad impact of retaliatory tariffs on nearly all seafood items imported by Canada. Joanne Losier, executive director of New Brunswick Crab Processors, expressed concerns about the industry being targeted and the possibility of further tit-for-tat tariffs from the U.S.
Nova Scotia Premier Tim Houston, in collaboration with industry representatives, had raised concerns about the seafood tariffs with the federal government earlier in the week. Following the decision to remove seafood from the tariff list, Houston expressed satisfaction with the outcome.
Despite the adjustment, the federal government reiterated its commitment to maintaining a proportional response to U.S. products. Certain additional items, such as copper wire and charcoal, have been added to ensure a dollar-for-dollar impact, with a 50 per cent tariff set to take effect on September 8. Minister of Finance François-Philippe Champagne emphasized that the decision was made in the best interest of Canada, reflecting the government’s responsiveness to Canadian feedback.