Nova Scotia lobster industry welcomes temporary suspension of Chinese tariff

Ottawa persuaded China to temporarily suspend a 25 per cent tariff on Canadian lobster and crab, a move that industry leaders say eases pressure on Nova Scotia exporters; the suspension is reported to run from March to the end of the year and it is unclear whether other seafood is included.

Officials say Ottawa persuaded China to temporarily drop a 25 per cent tariff on Canadian lobster and crab. The tariff was imposed in March and the suspension is reported to run from March until the end of this year. Industry representatives in Nova Scotia said the tariff cost the province more than $400 million and that live lobster exports to China made up about 40 per cent of the province's export market in 2024, generating about $600 million. Some exporters reported they were barely covering costs or selling at a loss to maintain their link to the Chinese market. Key points: - Ottawa persuaded China to temporarily suspend the 25 per cent tariff on Canadian lobster and crab. - The suspension is reported to apply from March until the end of the year. - Industry figures say the tariff cost Nova Scotia more than $400 million and that China accounted for about 40% of live lobster exports in 2024, roughly $600 million in revenue, with some exporters selling at a loss. - The delegation led by Prime Minister Mark Carney was credited with progress, and it remains unclear whether the suspension covers other Canadian seafood. Summary: Officials reported the suspension eases immediate pressure on Nova Scotia seafood exporters, and industry representatives said it may lead to higher prices at the wharf. Whether the suspension will be extended or will apply to other Canadian seafood exports is undetermined at this time.