Canadian seafood hoping for smaller tariff hit

The US is a major importer of Canadian seafood and salmon in particular which its fledgling aquaculture industry cannot match.

It is thought Trump is keen to avoid raising food costs which would add to US household inflation.

The New Brunswick provincial premier Susan Holt revealed yesterday that Canada can expect a smaller hit for some of its export products when Trump announces sweeping new tariffs later on Wednesday.

She said Mark Carney, the new federal prime minister, had spoken to the US president over the weekend and had been told Canada may face lower tier tariffs. Carney described the talks as both cordial and constructive.

No figure has been mentioned but reports by the broadcaster CBC suggest rates of 10% or 15%, which would still be difficult, but manageable.

The Canadian seafood sector is already facing 25% tariffs from China, its second largest export market, although salmon may be excluded.

 CBC says that Carney and Trump had agreed to sit down and negotiate a comprehensive "new" economic and security relationship between the two countries should Carney win the upcoming federal election.

Meanwhile, there is no sign yet of Carney letting up on his predecessor’s ban on open pen farming in British Columbia which has angered the industry and those first nation groups engaged in aquaculture.

With the election outcome finely balanced pressure is growing on Carney to make a conciliatory move.