Canada exempts seafood from retaliatory tariffs on U.S. goods

Canada will remove seafood and fish products from its planned counter-tariffs on U.S. goods after feedback from the fishery industry, saying the exemption will protect against broader economic harm. The levies are scheduled to begin Sept. 8, following President Trump’s 50 percent import taxes on $27.6 billion worth of Canadian goods. Canada’s retaliatory tariffs will range from 15 percent to 50 percent, with each rate matching the U.S. tariff on the relevant product. The exemption came after the Maine Lobstermen’s Association opposed a proposed 25 percent tariff on U.S.-sourced lobster, saying Canadian businesses buy roughly half of Maine’s lobster during the fall fishing season. The reversal was welcomed by the association and Maine Sen. Susan Collins (R), who urged the Trump administration to return to negotiations and resolve the trade war.

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Canada exempts seafood from retaliatory tariffs on U.S. goods - CoinPost Terminal