President Trump has postponed his threat of 25% tariffs on Canadian goods, opting instead for a memorandum directing U.S. agencies to investigate trade concerns. While this delays immediate harm, the Canadian seafood industry is advised to explore markets beyond the U.S. due to potential future tariffs. The industry is already planning a trade mission to Europe, but experts suggest diversifying further into Asia and the Middle East to mitigate risks.
Trump is holding off on his threat to impose 25 per cent tariffs on Canadian exports and will instead sign a memorandum ordering U.S. federal agencies to study trade issues.
But Geoff Irvine, director of the Lobster Council of Canada, says the new U.S. administration is sending a message that Canada’s seafood industry should shift its focus to other international markets.He says Quebec and Atlantic Canada in 2023 together exported about $1.6 billion worth of lobster to the United States, adding that if tariffs are imposed it would cost valuable jobs and income across coastal communities.
Members of Canada’s seafood industry are heading on a trade mission to Europe in two weeks, but Irvine says the sector should do more by also developing markets in Asia and the Middle East.Robert Huisch, a professor at Dalhousie University’s department of international development studies, says Atlantic Canadian businesses must remain vigilant over the next four years to the threats and risks of U.S. tariffs.
TRADE TARIFFS CANADA USA SEAFOOD INDUSTRY
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