Nova Scotia is welcoming the news of an agreement with China to temporarily halt “anti-discrimination” tariffs on Canadian lobster and crab. The Nova Scotia Seafood Alliance’s executive director, Kris Vascotto, expressed relief at the deal, calling it a significant step forward for the industry. Prime Minister Mark Carney announced the agreement, which involves allowing 49,000 Chinese electric vehicles to enter the Canadian market annually in exchange for lifting tariffs on Canadian lobster, peas, canola, and crab.
Vascotto highlighted the adverse effects of the additional 25% tariff on lobster exports from Nova Scotia to China, estimating losses of $430-450 million per year. The agreement is seen as a positive development, with Nova Scotia MP Kody Blois emphasizing the importance of ongoing engagement between the two countries.
Louisbourg Seafoods Limited, a Cape Breton-based company, praised the trade agreement, emphasizing its role in enhancing Canada-China relations. Meanwhile, Osborne Burke, a former president of the Nova Scotia Seafood Alliance, emphasized the need for diversification in international markets beyond China to ensure stability in the seafood industry.
The Fish Food and Allied Workers union in Newfoundland and Labrador welcomed the reduction in trade barriers but sought clarity on whether species beyond lobster and snow crab would benefit from the new agreement. The union highlighted the importance of other seafood species, such as sea cucumber, in the province’s fisheries.
Overall, stakeholders in the seafood industry are optimistic about the agreement’s potential impact on market access and economic stability for Canadian seafood exports.