In a controversial announcement on 25 November, U.S. President-elect Donald Trump proposed significant tariff increases on goods from Canada, Mexico, and China, a move expected to impact a substantial portion of U.S. seafood imports. Trump outlined the plan on his Truth Social platform, indicating a 25 percent tariff on all imports from Mexico and Canada and a 10 percent tariff on goods from China, in addition to existing tariffs.
“On 20 January, as one of my many first executive orders, I will sign all necessary documents to charge Mexico and Canada a 25 percent tariff on all products coming into the United States and its ridiculous open borders,” Trump stated. “This tariff will remain in effect until such time as drugs, in particular fentanyl, and all illegal aliens stop this invasion of our country!”
The U.S. relies heavily on seafood imports, with the trade deficit in the sector reaching USD 20.3 billion (EUR 19.3 billion) in 2023. Of the USD 25.3 billion (EUR 24.1 billion) in seafood imports, Canada accounted for USD 3.62 billion (EUR 3.45 billion), making it the largest source of seafood to the U.S.
National Oceanic and Atmospheric Administration (NOAA) data shows the U.S. imported USD 3.56 billion (EUR 3.39 billion) worth of edible seafood and USD 59.5 million (EUR 56.7 million) in non-edible seafood from Canada in 2023. These figures represent over 305 million kilograms of products.
Industry experts are expressing concerns over the potential financial burden on U.S. importers if the proposed tariffs are implemented. For instance, a 25 percent tariff on seafood imports from Canada alone would have significantly increased costs for importers, potentially leading to higher consumer prices and disruptions in the seafood supply chain.
The proposal has sparked debate among stakeholders in the seafood and trade sectors, as they await further details and policy actions following Trump’s inauguration in January.
Source: Seafoodsource
