Latest news with #FisheriesCouncilofCanada
CBC
12-03-2025
- Business
- CBC
Chinese tariffs on Canadian seafood would serve 'devastating' double whammy, fisheries council says
The Fisheries Council of Canada says tariffs on Canadian seafood entering China spells disaster for the industry — including in Newfoundland and Labrador — and serves as a double whammy with U.S. tariffs already in play. China announced it would impose a 25 per cent tariff on Canadian seafood effective March 20 as a retaliatory measure to Canadian tariffs on steel, aluminum and electric vehicles in the fall. The list of over 40 products facing the tariff includes lobster, crab, shrimp, halibut and more. "Some of the fisheries, some of the species that go to China, are almost exclusively going to China," council chair Alberto Wareham told CBC News from Arnold's Cove, N.L. on Tuesday. "The Chinese tariffs coming on top of the potential U.S. tariffs is devastating for many of our members." U.S. President Donald Trump has also said tariffs on all goods from Canada will be brought into effect on April 2. Wareham said 16 per cent of Canadian seafood gets exported to China, and 67 per cent gets exported to the U.S. That means 83 per cent of all seafood exported from Canada would be tariffed by April 2. "A lot of companies have a big problem here," Wareham said. "We need government of Canada support, we need the provincial government supports across Canada to find a way to keep these businesses going." Wareham says there are other Newfoundland and Labrador fisheries that will feel the impact of Chinese tariffs, including sea cucumber and cold water shrimp. "To lose that market is devastation, and you can't pivot away that fast," he said. "We have members that are facing catastrophic [impacts] in their business on short notice." Danny Dumaresque, president of Labrador Gem Seafoods, told CBC News he doesn't sell his product to China but knows the market's importance to others in the province and across Canada. "The slack from the United States market was being picked up by China, and now of course that appears to be slammed shut," Dumaresque said in a recent interview. WATCH | The CBC's Carolyn Stokes reports on the risks posed by Chinese tariffs: N.L. seafood industry to take a hit from Chinese tariffs against Canada 39 minutes ago Duration 2:28 The CBC's Carolyn Stokes describes how experts in the fishery are fearing that Chinese tariffs against Canadian seafood will devastate the industry. Dumaresque says he's thinking about business in other parts of Asia, specifically in Hong Kong. "One of the major concerns I got now is whether this Chinese tariff is actually going to apply to Hong Kong. Because, you know, it's still not clear if they are operating as a separate economic entity, or if the decree actually applies to them," he said. "I have been in communication, for example, with a couple of companies over there. And now I don't know if there's any point."
Yahoo
12-03-2025
- Business
- Yahoo
Chinese tariffs on Canadian seafood would serve 'devastating' double whammy, fisheries council says
Alberto Wareham, chair of the Fisheries Council of Canada and president of Icewater Seafoods Inc., says planned Chinese tariffs on Canadian seafood would devastate the national seafood industry. (CBC) The Fisheries Council of Canada says tariffs on Canadian seafood entering China spells disaster for the industry — including in Newfoundland and Labrador — and serves as a double whammy with U.S. tariffs already in play. China announced it would impose a 25 per cent tariff on Canadian seafood effective March 20 as a retaliatory measure to Canadian tariffs on steel, aluminum and electric vehicles in the fall. The list of over 40 products facing the tariff includes lobster, crab, shrimp, halibut and more. "Some of the fisheries, some of the species that go to China, are almost exclusively going to China," council chair Alberto Wareham told CBC News from Arnold's Cove, N.L. on Tuesday. "The Chinese tariffs coming on top of the potential U.S. tariffs is devastating for many of our members." U.S. President Donald Trump has also said tariffs on all goods from Canada will be brought into effect on April 2. Wareham said 16 per cent of Canadian seafood gets exported to China, and 67 per cent gets exported to the U.S. That means 83 per cent of all seafood exported from Canada would be tariffed by April 2. "A lot of companies have a big problem here," Wareham said. "We need government of Canada support, we need the provincial government supports across Canada to find a way to keep these businesses going." Wareham says there are other Newfoundland and Labrador fisheries that will feel the impact of Chinese tariffs, including sea cucumber and cold water shrimp. Lobster is part of over 40 products China is planning to place tariffs on. Sixteen per cent of all Canadian seafood is exported to China. (CBC/Radio-Canada) "To lose that market is devastation, and you can't pivot away that fast," he said. "We have members that are facing catastrophic [impacts] in their business on short notice." Danny Dumaresque, president of Labrador Gem Seafoods, told CBC News he doesn't sell his product to China but knows the market's importance to others in the province and across Canada. "The slack from the United States market was being picked up by China, and now of course that appears to be slammed shut," Dumaresque said in a recent interview. WATCH | The CBC's Carolyn Stokes reports on the risks posed by Chinese tariffs: Dumaresque says he's thinking about business in other parts of Asia, specifically in Hong Kong. "One of the major concerns I got now is whether this Chinese tariff is actually going to apply to Hong Kong. Because, you know, it's still not clear if they are operating as a separate economic entity, or if the decree actually applies to them," he said. "I have been in communication, for example, with a couple of companies over there. And now I don't know if there's any point." Download our free CBC News app to sign up for push alerts for CBC Newfoundland and Labrador. Sign up for our daily headlines newsletter here. Click here to visit our landing page.
