The Canadian seafood industry on the East Coast is expressing relief as the federal government has excluded U.S. fish and seafood products from its list of counter-tariffed items. This decision, announced late Wednesday night, was based on received feedback and followed the imposition of counter-tariffs on $27.6 billion worth of U.S. goods by Canada in response to new 50 per cent tariffs imposed by the U.S. over the weekend.

The initial list of goods subject to counter-tariffs included many seafood products taxed at a 25 per cent rate. Industry leaders were apprehensive about the potential devastating impact on the seafood business, which had not been involved in the trade war until the recent announcement.

Gilles Thériault, former president of the New Brunswick Crab Processors Association, stated that the entire Atlantic fisheries industry is relieved by the removal of the tariff from the list. Nat Richard, executive director at the Lobster Processors Association representing 25 processors across the Maritimes, emphasized the significant integration of the industry across the U.S.-Canada border.

The threat of 25 per cent tariffs posed a severe economic challenge to seafood processing in Canada, with fears of plant closures and job losses. Kris Vascotto, executive director of the Nova Scotia Seafood Alliance, highlighted the broad impact of nearly all seafood items imported by Canada being on the retaliatory tariff list.

Joanne Losier, executive director of New Brunswick Crab Processors, expressed concerns about potential tit-for-tat tariffs and the negative spotlight on the Canadian seafood industry. Nova Scotia Premier Tim Houston commended the government’s decision to exclude seafood tariffs following discussions with industry representatives.

While some measures were rolled back, the federal government reiterated its commitment to maintaining a proportional response to U.S. products. Certain additional items, including copper wire and charcoal, were added to the list to ensure a dollar-for-dollar impact. Minister of Finance François-Philippe Champagne emphasized that the decision was made in the best interests of Canada after listening to Canadians.