After receiving feedback, the Canadian government has decided to remove U.S. fish and seafood products from the list of items subject to counter-tariffs. This decision came shortly after imposing counter-tariffs on a range of U.S. goods worth $27.6 billion in response to recent U.S. tariffs. The initial list included seafood products taxed at a 25% rate.
Industry leaders in Canada’s East Coast seafood sector expressed relief over the removal of U.S. seafood from the counter-tariff list. They were concerned about the potential negative impact on the industry, as it heavily relies on cross-border integration. For instance, Canadian processing plants deal with American-caught lobster during the off-season before exporting it back to the U.S.
Nat Richard, the executive director of the Lobster Processors Association, emphasized the economic strain that a 25% tariff would have placed on processing in Canada, potentially leading to plant closures and job losses. Similarly, Kris Vascotto from the Nova Scotia Seafood Alliance highlighted the broad repercussions of retaliatory tariffs on the industry.
Joanne Losier of the New Brunswick Crab Processors voiced worries about the seafood industry becoming a target for further tariffs and urged for stability in trade relations, especially regarding snow crab exports to the U.S. Nova Scotia Premier Tim Houston supported the decision to remove seafood tariffs and maintained that Canada would continue its proportional response to U.S. products.
While some measures were rolled back, the Canadian government reiterated its commitment to maintaining a reciprocal tariff policy. New items like copper wire and charcoal have been added to the counter-tariff list to ensure an equivalent impact on U.S. products. Minister of Finance François-Philippe Champagne stated that the decision to remove seafood from the list was made in the best interest of Canada, following consultations with the industry and Canadians.
