Seafood trade representatives in Atlantic Canada are urging harvesters and exporters to diversify their markets, as United States President Donald Trump takes workplace for a second time period.
Trump is holding off on his risk to impose 25 per cent tariffs on Canadian exports and can as a substitute signal a memorandum ordering U.S. federal businesses to review commerce points.
However Geoff Irvine, director of the Lobster Council of Canada, says the brand new U.S. administration is sending a message that Canada’s seafood trade ought to shift its focus to different worldwide markets.
Get each day Nationwide information
Get the day’s high information, political, financial, and present affairs headlines, delivered to your inbox as soon as a day.
He says Quebec and Atlantic Canada in 2023 collectively exported about $1.6 billion price of lobster to the US, including that if tariffs are imposed it could price precious jobs and revenue throughout coastal communities.
Members of Canada’s seafood trade are heading on a commerce mission to Europe in two weeks, however Irvine says the sector ought to do extra by additionally growing markets in Asia and the Center East.
Robert Huisch, a professor at Dalhousie College’s division of worldwide improvement research, says Atlantic Canadian companies should stay vigilant over the following 4 years to the threats and dangers of U.S. tariffs.
This report by The Canadian Press was first printed Jan. 20, 2025.
— With recordsdata from The Related Press.
© 2025 The Canadian Press
Source link