Seafood industry faces uncertainty as Chinese tariffs take effect

Concerns are rising in the seafood industry as 25 per cent Chinese tariffs on Canadian seafood take effect today.

Nova Scotia Premier Tim Houston says work continues to diversify the province’s market.

There are concerns in the industry about how the Chinese tariffs, along with U.S. tariffs set to take effect April 2, will impact the bottom line.

Houston was in Boston earlier this week, meeting with new potential buyers at the North American Seafood Expo.

“The mood at the show was still pretty positive. Fish will get caught, and fish will get sold,” he said.

The premier told reporters the expo was a success in terms of promoting Nova Scotia seafood.

“We had meetings to talk about opportunities in the Philippines. One hundred and twenty million people live in the Philippines, the average age is 25—it’s an incredible market opportunity,” he said. “It’s a big world, and there is lots of opportunity.”

The United States is the top buyer of Nova Scotia lobster, followed by China.

Houston says while the tariffs are causing uncertainty, demand for seafood remains strong. He also pointed to the contingency fund set aside in the recent provincial budget, saying it will be used to support Nova Scotians if needed.