Canadians Focused on Economy in Today’s Federal Election; Stakes High in Seafood Industry

The federal election in Canada will end tonight with final ballots cast no later than 7 p.m. local time in British Columbia. This comes after a month-long campaign marked by a rare flip in the polls, as voters reacted to U.S. President Donald Trump’s ‘retaliatory’ tariff policy against Canadian goods and a threat to annex the nation as the 51st state.

In early January, former Prime Minister Justin Trudeau announced he would be stepping down in March. At that time, Pierre Poilievre’s Conservative party had a...

Southern Shrimp Alliance Celebrates Trump’s Executive Order to Strengthen American Seafood Industry

The Southern Shrimp Alliance (SSA) recently released a statement applauding President Trump’s executive order “Restoring American Seafood Competitiveness,” which he signed on April 17.

According to the SSA, the action directly confronts the existential threats currently facing the U.S. domestic shrimp industry including unfair trade practices, imported shrimp that is unsafe or linked to forced labor practices, and regulatory imbalances. The Alliance added that foreign competitors do not have to face the same regulations or economic and logistic barriers as U.S. shrimpers...

The Winding Glass: We Will All Pay the Price for Tariff Stupidity, Incompetence, and Hubris- Opinion

Trump has no tariff plan. Most tariffs are negotiated on specific commodities, with painstaking analysis of costs of inputs, subsidies, and trade balances. Anyone who remembers the imposition of shrimp tariffs in 2004 knows that even though the process was driven by the politics of domestic shrimpers, the actual process was detailed and company specific. As a result, those companies demonstrating a lack of subsidy and realistic cost inputs avoided significant tariffs. Within a short time, the shrimp market was healthy again...

Alaska Seafood Industry, Lawmakers, and Media Urge US to Cool Down Trade War and DOGE Cuts

Two of Alaska’s leading seafood trade associations and the State House of Representatives issued plain-spoken opposition to President Trump’s trade policies this month, while Alaska Public Media President Ed Ulman testified to the importance of public news and broadcasting in a US House hearing on Tuesday.

A March 11 letter from Matt Tinning, CEO of the At-Sea Processors Association and Julie Decker, President of the Pacific Seafood Processors Association, was sent to Catherine Gibson, Deputy Assistant U.S. Trade Representative for Monitoring and...

SENA 2025: Lineage Logistics Addresses Food Waste, Tariffs, and FSMA Rule 204

During the Seafood Expo North America (SENA) 2025, Expana had the opportunity to sit down with Michael Bowman and Ron Margulis of Lineage Logistics and chat about the cold storage company’s ongoing efforts to streamline processes, increase traceability, and eliminate food waste, especially as the global supply chain faces U.S. tariffs on Mexico, Canada, and China, as well as the upcoming implementation of Food Safety Modernization Act (FSMA) Rule 204.

When asked about the economic turbulence that has been impacting the supply chain lately, Bowman, who is Vice...

Japanese Importers See Opportunities to Increase Canadian Spot Prawn Imports

According to a Minato Shimbun report, following China's announcement to impose an additional 25% tariff on Canadian seafood products, a Japanese trading company predicts that the volume of Canadian spot prawn and lobster exported to Japan will increase. Regarding Canadian spot prawns, the trading company predicts that "in recent years, exports to Japan have decreased due to an increase in exports to China, but the Japanese market will be subject to market restructuring."

Canadian spot shrimp are caught in British Columbia. The 2024 fishing season was from...

Fishing Industry on the Brink: FCC Calls for Urgent Government Action

The Fisheries Council of Canada (FCC) called China’s 25% tariff on Canadian seafood exports an “existential threat” to fishing operations across the country, especially as it follows US tariffs.

The FCC has pushed to sound the alarm on the impact of the China tariffs, with the March 20 deadline approaching. The double tariff situation could impact 83% of Canada’s seafood export markets within a span of days. The US and China represent roughly CA$6.6 billion ($4.6 billion) of Canada’s CA$8.1 billion in fish...

Trump Pauses Tariffs on USMCA-Compliant Imports from Mexico, Canada Until April 2

President Donald Trump’s social media posts are shaping trade policy in real-time: The president announced that some of the previously enacted 25% tariffs on Mexican goods will be delayed until April 2.

“After speaking with President Claudia Sheinbaum of Mexico, I have agreed that Mexico will not be required to pay Tariffs on anything that falls under the USMCA Agreement. This Agreement is until April 2nd.”

An hour prior, Trump also posted about Canadian PM, Justin Trudeau on Truth Social...

US Seafood Targeted in Canada’s Proposed Retaliatory Tariff List

Canada wasted no time hitting back at new U.S. tariffs, with Prime Minister Justin Trudeau announcing immediate 25% retaliatory duties on C$30 billion ($20.9 billion) worth of American imports after the levies took effect on March 4.

“Canada is being needlessly and unfairly targeted by these tariffs – and the US' decision leaves us with no choice but to respond to protect Canadian interests, workers and businesses. Working with provincial, territorial and industry partners, our singular focus is to remove these tariffs as quickly as possible...

‘The Tariffs Are All Set’: Trump Imposes 25% Tariffs on Canada and Mexico

It’s official. The US will implement a broad 25% tariff on Canada and Mexico on March 4. Trump also noted that he would add another 10% tariff on Chinese goods, on top of the initial 10% tariff he placed on the country in February.

“No room left for Mexico or Canada (to make a deal),” Trump told reporters at the White House. “The tariffs are all set. They go into effect tomorrow.

Trump said the neighboring countries had no chance for a last-minute deal that would...

Trump Signs Memo to Advance Reciprocal Tariffs, Aims to Balance Trade

President Trump signed a memorandum that could lead to the implementation of reciprocal tariffs on the trading partners of the United States.

“The ‘Fair and Reciprocal Plan’ will seek to correct longstanding imbalances in international trade and ensure fairness across the board,” per a fact sheet from the White House. “Gone are the days of America being taken advantage of: this plan will put the American worker first, improve our competitiveness in every area of industry, reduce our trade deficit, and bolster our economic and national security...

Canadian Countermeasures on Trump’s Tariffs Extend Throughout the Maritimes

Participants in some of the most inclusive and far-reaching fisheries, forestry and agriculture roundtables are showing unprecedented unity and resolve as they collectively prepare a plan of action for potential US tariffs and establish a long-term vision for growth and development,” the government of Newfoundland and Labrador wrote in a news release on Monday, February 10, 2025. Gerry Byrne, Minister of Fisheries, Forestry and Agriculture in NL, hosted a series of roundtables with representatives from the province’s three renewable resource sectors...

US Becomes Largest Market for Norwegian Seafood Exports in January Amid Tariff Talks

The US was the largest market for Norwegian seafood exports in January 2025 on a value basis. The Norwegian Seafood Council said the country exported NOK 1.5 billion ($133.7 million), accounting for 9.7% of total exports.

“Even though President Donald Trump has talked a lot about increased tariffs for his trading partners, we note that January was a historic month for Norwegian seafood exports to the US. Never has Norway exported fish and shellfish worth as much to the US market as we did in January...

Barclays Downgrades Salmar and Leroy Seafood to Underweight

Global financial services provider Barclays recently downgraded Salmar and Leroy Seafood to Underweight from Equal Weight status, thus indicating that the seafood companies’ stocks are currently underperforming in relation to their typical benchmarks.

This dip in price targets coincides with recently implemented U.S. import tariffs, which have spurred a decline in the global stock market. Tariffs have impacted exports of numerous countries including Norway and Chile, where the above companies are headquartered, amongst many others.

According to reporting by Theflyonthewall.com, Barclays analysts have indicated that Salmar’s price target dipped from NOK 530...

Japan Extends High Tariff on Russian Seafood Products by One Year Until the End of March 2026

At a cabinet meeting on March 28, the Japanese government decided to extend its withdrawal of Russia’s most-favored-nation status for one additional year. The deadline was set to expire at the end of this month, but the Minato Shimbun reported that it has been extended until March 31, 2026. This means that the high tariff will continue.

Regarding the possible conclusion of peace negotiations between Ukraine and Russia by March 2026, a Finance Ministry official responded, "Under the system, it is..."

Premium Brands Minimizes Tariff Risk; Clearwater Seafoods Results Hit by Subpar Catches

Canada’s Premium Brands reported a record Q4 revenue of CAD 1.64 billion ($1.14 billion), a 5.4% increase compared to the fourth quarter of 2023. The company also netted record Q4 adjusted EBITDA ($148.7 million). For the fiscal year, the company hit record revenue ($6.47 billion) and adjusted EBITDA ($593.7 million).

“2024 finished on a strong note driven by our Protein and Bakery Groups’ US sales initiatives, which generated approximately $50 million in sales volume growth in the quarter...

US-Canada Trade Tensions Loom Over Newfoundland Snow Crab Negotiations

FFAW-Unifor, a union representing fishermen throughout Newfoundland and Labrador, said negotiations with the Association of Seafood Producers (ASP), a trade group representing processors and producers in the region, “have been productive.”

According to the FFAW, stronger snow crab market conditions compared to recent years have helped negotiations. The FFAW also noted the price increases in the Urner Barry by Expana price index.

“We have seen steady increases in the Urner Barry price index and inventory is not a factor. In fact, Urner Barry ceased quoting...

NL Delegation to Meet with New Buyers at Seafood Expo North America and Explore Market Opportunities 

The Government of Newfoundland and Labrador’s (NL) Fisheries, Forestry and Agriculture division recently announced that Minister Honorable Gerry Byrne and a delegation of provincial fishery representatives will meet with key global buyers during the 2025 Seafood Expo North America (SENA).

The annual seafood expo takes place on March 16 – 18 in Boston, Massachusetts, and will allow the NL government to explore global market opportunities with key players in the seafood sector.

This year, NL will be co-exhibiting with the following companies...

The Winding Glass: Seafood Consumption in Crossfire as Global Tariff War Erupts

The biggest loser in the global tariff wars that have erupted in seafood will be American consumers, importers, processors and distributors.

This week Pres. Trump unilaterally imposed 25% tariffs on all Canadian seafood.  This covers almost all the snow crab, 55% of domestic live lobster, and about 50% of whole farmed Atlantic salmon consumed in the US.

In response to US pressure on Canada to follow its tariff war with China, the Canadians imposed higher tariffs on some Chinese products last fall...

US Demand Helps Fuel Record Norwegian Seafood Exports in February

Norway experienced its highest export value for the month of February. While there were a multitude of factors at play, trade with the US was a key factor. A similar story was the case in January as the US was the largest market for Norwegian seafood on a value basis to start 2025, as Expana reported.

According to the council, the USA had the highest value growth in February, witnessing an export value increase of NOK 548 million ($50 million)...

Mexico’s Modest Role in US Seafood Trade: Limited Impact of a 25% Tariff

President Donald Trump’s tariffs on Canada, Mexico, and China took effect at midnight, prompting swift retaliation. China and Canada quickly imposed tariffs on U.S. products, while Mexico’s president announced that countermeasures would be detailed on Sunday, according to Expana.

The most significant tariff impacts for the U.S. seafood industry will stem from trade with China and Canada, while Mexico’s measures are unlikely to cause major disruptions.

Mexico is a relatively minor player in the U.S. seafood market, ranking only 10th among suppliers and accounting for just 3.32%...

Trade Tensions Ignite as Canada and China Hit Back at US Tariffs

Canada and China have announced retaliatory tariffs in response to new US tariffs that went into effect today, igniting trade tensions between the world’s largest economies. After a 30-day pause, the US administration imposed a broad 25% tariff on Canada and Mexico on March 4, Expana's Ryan Doyle reported.

One minute past midnight, the US administration imposed 25% tariffs on Canadian exports and 10% tariffs on Canadian energy. Prime Minister Justin Trudeau said the decision had “no justification” and emphasized Canada’s efforts to combat...

Congressman Urges Trump to Crack Down on Seafood Imports from China, India, and Others 

US Congressman Clay Higgins (R-LA) wrote a letter to President Trump requesting tariffs be placed on seafood imports from China, Ecuador, India, Indonesia, and Vietnam, some of the country’s largest trading partners.

“Domestic shrimpers, fishermen, and crawfish producers in Louisiana and across the country face significant challenges competing against foreign seafood industries that are heavily subsidized and engage in illegal dumping into the United States,” Congressman Higgins wrote. “These unrighteous trade practices artificially drive down prices, disrupt fair market conditions, and threaten...

Ecuador and Mexico Clash Over Shrimp Trade and Tariff Disputes

On Monday, February 3, Ecuador’s President Daniel Noboa declared that Ecuador would be applying a 27% tariff on all Mexican goods in order to promote fair treatment of Ecuadorian companies.

At a press conference the following day, Mexico’s President Claudia Sheinbaum responded, saying that Mexican exports into Ecuador account for only 0.4% of Mexico’s overall foreign exports, implying that the proposed tariffs will not have a significant impact on the Central America country.

José Antonio Camposano, executive president of the National Chamber of Aquaculture of Ecuador, then replied via...

Nova Scotia Seafood Sector Embarks on Trade Mission to Europe Amid Stalled Tariffs

Recently, Nova Scotia Fisheries and Aquaculture Minister Kent Smith led a trade mission to Europe, alongside a delegation of key stakeholders within the Atlantic Canadian seafood sector, in an effort to diversify the country’s seafood market, especially amid President Trump’s pending US import tariffs.

The delegation, comprised of six Nova Scotian seafood companies and eight Atlantic Canadian seafood companies, included participation by the following seafood leaders: Lobster Hub Inc., Louisbourg Seafoods Ltd., Victoria Co-Operative Fisheries Ltd., Tribune Seafood Inc., Gidney Fisheries Ltd...