Finance Canada has decided to exclude fish and seafood products from the list of items subject to counter-tariffs, following the government’s initial response to the U.S. with retaliatory actions. The adjustment was announced late Wednesday night, citing industry feedback as the basis for the change.
The government stated that ongoing evaluations are being conducted in collaboration with Canadian industries to gauge the effectiveness of these measures, particularly focusing on sectors impacted by U.S. tariffs. This modification occurred after the federal government introduced counter-tariffs on $27.6 billion worth of U.S. goods, in retaliation to the new 50% tariffs imposed by the U.S. over the weekend on a similar range of products following failed trade negotiations.
Among the originally targeted items, many were seafood products subjected to a 25% tax rate. The government emphasized that it will continue to match U.S. products with equivalent tariffs in response.
Concerns were raised earlier in the week within the fisheries industry regarding the potential impact of these retaliatory measures on their operations. Some industry representatives expressed feeling caught off guard by the inclusion of seafood on the tariff list.