The seafood industry on Canada’s East Coast is experiencing relief as the federal government has eliminated U.S. fish and seafood products from its list of counter-tariffed items. This decision, announced late Wednesday night, was made following feedback received by the government. The change was prompted by the imposition of new 50 per cent tariffs by the U.S., which led to counter-tariffs on $27.6 billion worth of American goods. Many of the initially listed items were seafood products subjected to a 25 per cent tax rate.
The removal of U.S. seafood from the counter-tariff list has been welcomed by industry leaders who were concerned about the potential detrimental effects on the seafood business. Gilles Thériault, former president of the New Brunswick Crab Processors Association, expressed relief at this development. The interdependence of the industry across borders was highlighted by Nat Richard, executive director of the Lobster Processors Association, which represents 25 processors in the Maritimes.
The threat of a 25 per cent tariff would have made seafood processing in Canada economically unviable, according to Richard. This situation could have led to the premature closure of numerous processing plants employing hundreds of workers. The Nova Scotia Seafood Alliance’s executive director, Kris Vascotto, cautioned that nearly all seafood items imported by Canada were on the retaliatory tariff list, posing a broad impact on the industry.
Joanne Losier, executive director of New Brunswick Crab Processors, expressed concerns about potential repercussions on the Canadian seafood industry and the prospect of retaliatory tariffs from the U.S. Over 90 per cent of Canada’s snow crab is exported to the U.S., which has yet to impose tariffs on this product. Nova Scotia Premier Tim Houston commended the federal government’s decision to remove seafood tariffs, reflecting the industry’s concerns raised earlier in the week.
Despite these adjustments, the federal government emphasized its commitment to maintaining a proportional response to U.S. products. Additional items such as copper wire, charcoal, plaster sheets, and tiles have been included on the counter-tariff list to uphold the dollar-for-dollar impact. These products will be subject to a 50 per cent tariff effective September 8, as indicated on the government’s official list.
During a news conference, Finance Minister François-Philippe Champagne stated that the government’s decision was in the best interests of Canada and a response to feedback from Canadians. However, he did not directly address the implications of the move on relations with the White House.