Latest news with #LabradorGemSeafoods
CBC
08-05-2025
- Business
- CBC
N.L. seafood producer hopeful for new markets at world's largest trade event in Spain
The world's largest seafood expo is drawing to a close in Barcelona, and one Newfoundland and Labrador seafood producer is optimistic he'll walk away with new customers. Labrador Gem Seafoods president Danny Dumaresque is working the floor at the Global Seafood Marketplace. He says the expo has gotten off to a strong start. "It's a busy spot, you know. We were hoping for solid traffic here and I must admit it's been quite good," Dumaresque told CBC Radio's The Broadcast. "We've had a robust day here with lots of people dropping by with enthusiasm about Canadian seafood." Dumaresque says the expo has five venues filled with companies from across Europe, Asia and the U.S. "Canada has a prominent presence here," he said. "It's a major event for the Canadian delegation." The Newfoundland and Labrador government also has a booth there. Before the COVID-19 pandemic, Dumaresque says he sold scallops to a French buyer, but then the supply chain was disrupted. He says he was recently able to renew that relationship. Dumaresque says he had his eye on this event since U.S. President Donald Trump took office in January. The expanding global trade war kicked off soon after. While Canadian seafood was not tariffed, uncertainty was felt throughout the sector for months. Dumaresque says Trump's second term is going to impact how people do business, and people are looking for stability outside of the U.S. market. "He's going to be as unpredictable tomorrow as he was yesterday. And therefore we have to be proactive. We have to get out there and make our new customers happy with our products," he said. "We also have to be prepared to make those contacts last, that we're not going back to where we were." The "America first" policies won't necessarily end after Trump leaves office, Dumaresque added. In response, he says business owners need to renew their relationship with European partners, particularly in France. He said he's also glad to see Prime Minister Mark Carney reach out to established partners in the United Kingdon, France and Germany. Dumaresque says the established relationship with the U.S. is over, and he's optimistic that the European Union will be that new market, given its population of approximately 450 million people. "They understand the high quality seafood that we produce," he said. "People are certainly aware and sensitive to how Canada has been betrayed by the current government in Washington. And they're happy to be there as an ally on the economic side right now."
CBC
05-04-2025
- Business
- CBC
While Canada was spared from further tariffs — for now — N.L. plans to hold its ground
While Canada was spared from further U.S. tariffs on Wednesday, Newfoundland and Labrador Premier Andrew Furey says it was only a "partial relief" and that Canada needs to continue to protect itself. On Wednesday, President Donald Trump rolled out sweeping reciprocal tariffs that targeted dozens of countries around the world, though Canada and Mexico — which have been early targets during Trump's second term — were not included. "While we were all happy not to see Canada on that ridiculous billboard, I still think that we need to be reserved in that relief," Furey told CBC News on Thursday morning. There already exists tariffs on steel and aluminum, auto manufacturing, as well as potash and energy products coming out of Canada. Canadian premiers and the federal government will need to continue the fight, Furey said. In doing so, Furey confirmed his commitment to keep provincial measures in place, like keeping U.S. alcohol off of Newfoundland and Labrador Liquor Corporation store shelves. "We look to diversify our markets. We look to alter our procurement processes so that we're securing what we can across Canada as opposed to the United States. But this has been incredibly disruptive," said Furey. Speaking ahead of a virtual first premiers meeting on Thursday, Furey said he wants to see a relief package that will support those impacted by U.S. tariffs. He says any Canadian response has to be proportional to the impact the U.S. tariffs have on Canada. "We need to make sure that we have a position of strength, which we do as a natural resource-based economy," Furey said. Diversification In the wake of Trump's announcement this week, Labrador Gem Seafoods president Danny Dumaresque said it's reassuring to be in a position where he can give directions to his production. The Canadian seafood industry has been spared by the U.S. so far, though China issued its own 25 per cent tariff in late March. "I was pleased that we'd dodged a bullet, but there's no question there is a global trade war raging," Dumaresque told CBC News. "By no means are we out of the woods." Financial markets in Asia and Europe are trending downward and economists are predicting a global recession, said Dumaresque, and Trump's announcement on Wednesday doesn't change his decision to diversify markets away from the U.S. "Fool me once, shame on you. Fool me twice, shame on me," he said.
Yahoo
05-04-2025
- Business
- Yahoo
While Canada was spared from further tariffs — for now — N.L. plans to hold its ground
Premier Andrew Furey committed to keeping U.S. alcohol off of liquor store shelves. (John Pike/CBC) While Canada was spared from further U.S. tariffs on Wednesday, Newfoundland and Labrador Premier Andrew Furey says it was only a "partial relief" and that Canada needs to continue to protect itself. On Wednesday, President Donald Trump rolled out sweeping reciprocal tariffs that targeted dozens of countries around the world, though Canada and Mexico — which have been early targets during Trump's second term — were not included. "While we were all happy not to see Canada on that ridiculous billboard, I still think that we need to be reserved in that relief," Furey told CBC News on Thursday morning. There already exists tariffs on steel and aluminum, auto manufacturing, as well as potash and energy products coming out of Canada. Canadian premiers and the federal government will need to continue the fight, Furey said. In doing so, Furey confirmed his commitment to keep provincial measures in place, like keeping U.S. alcohol off of Newfoundland and Labrador Liquor Corporation store shelves. "We look to diversify our markets. We look to alter our procurement processes so that we're securing what we can across Canada as opposed to the United States. But this has been incredibly disruptive," said Furey. Speaking ahead of a virtual first premiers meeting on Thursday, Furey said he wants to see a relief package that will support those impacted by U.S. tariffs. He says any Canadian response has to be proportional to the impact the U.S. tariffs have on Canada. "We need to make sure that we have a position of strength, which we do as a natural resource-based economy," Furey said. Diversification In the wake of Trump's announcement this week, Labrador Gem Seafoods president Danny Dumaresque said it's reassuring to be in a position where he can give directions to his production. The Canadian seafood industry has been spared by the U.S. so far, though China issued its own 25 per cent tariff in late March. Labrador Gem Seafoods president Danny Dumaresque says he'll continue his ongoing plan to diversify his market outside of the U.S. (Peter Cowan/CBC) "I was pleased that we'd dodged a bullet, but there's no question there is a global trade war raging," Dumaresque told CBC News. "By no means are we out of the woods." Financial markets in Asia and Europe are trending downward and economists are predicting a global recession, said Dumaresque, and Trump's announcement on Wednesday doesn't change his decision to diversify markets away from the U.S. "Fool me once, shame on you. Fool me twice, shame on me," he said. Download our free CBC News app to sign up for push alerts for CBC Newfoundland and Labrador. Click here to visit our landing page.
