The imposition of customs tariffs is increasingly worrying the lobster industry

The Maritime Lobster Processors Association is concerned about a potential economic war between Canada and the United States. This organization points out that these two markets are interdependent and that the impact of customs tariffs could be major, depending on the scale and duration of their imposition.

Many people have raised their voices this week given the tariff threats of Donald Trump. Ottawa is even evaluating the possibility of imposing customs tariffs on American products imported into Canada, notably orange juice as well as certain steel and plastic products.

At the end of a meeting with his provincial counterparts on Wednesday, Susan Holt launched the idea that lobster could be used in such a response to tariffs.

Imagine if Mr. Trump didn’t have his lobsters. What would he do without his lobsters, then his champagne?! They won’t have these lobsters without the rest of us! said the Premier of New Brunswick.

This possibility is not a surprise, said the general director of the Maritime Lobster Processors Association, Nathanaël Richard, on the show. The morning.

New Brunswick depends on the American market for 75% of its exports of frozen lobster products.

It could hurt a lot on both sides of the border.

If we have tariffs imposed, it is certainly incredibly worrying. We will have to see at what level: we are talking about 25%, but no one really knows.he said.

According to him, it will also depend on the duration of the imposition of these tariffs. Lobster fishing is not due to begin until May: so there is some hope for the lobster industry if these American tariffs are temporary.

If we’re talking about something that is very short-lived, that’s one thing. If we talk about prices that are there [pendant longtemps]it’s a different kettle of fish.

Nathanaël Richard adds that processors are currently taking all means to sell their stocks on the American market before January 20, the date Donald Trump officially takes office.

Market interdependence

Nathanaël Richard explains that the Canadian and American lobster markets are interdependent.

There are flows of lobsters in both directions. We depend a lot on supplies from the American side when there is no fishing in Canada.

Therefore, if Ottawa and Washington impose customs tariffs on lobster, the impact of these response measures will have to be carefully calculated.

How to hurt, how to affect sensitive industries on the American side without hurting yourself too?he asks.

Nathanaël Richard believes that we must above all strive to find American allies to make our southern neighbors understand that these tariffs will be devastating for fishermen, processors and consumers in both countries.

Having already met with provincial and federal authorities on this issue, the director of the Maritime Lobster Processors Association will travel to Maine shortly to discuss this tariff threat with various stakeholders during an annual meeting.

According to information from the show The morning