EU holds back on salmon tariffs in trade war with US

The decision is important to major salmon producers such as Norway because large volumes of Norwegian salmon are processed in several EU countries such as Poland and Denmark and then sold on to the US. It would probably be then classed as an EU product and subject to any retaliatory tariffs imposed by the US.

Norway’s salmon farmers are therefore worried that they could be dragged into the tariff war even though the country is a member of EFTA (the European Free Trade Association) and not the EU.

The US is one of Norway’s largest markets for salmon products – and is growing.

As a result the industry has largely refrained from commenting on the tariff war except to say there can be no winners.

The tariff war is complicated and started yesterday when the US imposed a 25% tariff on steel and aluminium imports.

Europe responded by a list of punitive tariffs which includes certain shrimp products, along with meat, fruit and vegetables. However, the list could be extended if the dispute drags.

So far the UK has been spared Trump’s tariffs, apart from the new levy on steel and aluminium which applies worldwide.

Meanwhile, Canada’s salmon companies, three of which are Norwegian-owned, will not know until early next month if the US will impose 25% tariffs on their products.

This section has been suspended until 2 April, but with general relations between the two countries deteriorating daily, the industry is expecting the worst.

It will be hoping that Canada’s new Prime Minister, Mark Carney, will make life easier by lifting the restrictions placed on open net farming in British Columbia.