Norway fears Trump tariff deal gives Scottish salmon companies major advantage
Gloom hit the Norwegian salmon sector at the weekend following the news that Oslo has so far failed to strike a tariff deal with salmon company shares falling on the Oslo Stock Exchange.
Norwegian seafood exporters are now faced with at least a 15% duty on everything they sell across the Atlantic. Icelandic salmon exporters also face a similar rate.
Norwegian industry leaders fear the situation will give Scottish salmon producers, who will only be paying 10% on its exports, a significant competitive advantage over Norway.
The employer organisation Seafood Norway said increased and different tariffs were bad news for world trade, and gave Norwegian exporters worse conditions than its British competitors.
Seafood Norway CEO Geir Ove Ystmark urged the government to seek a better deal and said: “We can already see that seafood producers from the UK with a tariff rate of 10% will have a competitive advantage compared to Norwegian seafood producers in the US.
“This could have consequences for the flow of goods and processing activities in the seafood market.“
He added: “In a time of great geopolitical uncertainty and increased protectionism, Norwegian authorities now have a major responsibility to ensure market access for Norwegian seafood to the global market.“
Norway’s second largest salmon company Salmar says it is currently difficult to say how the new tariff will affect the situation.
“Our salmon finds its way to many markets all over the world, and how and in what way new customs tariffs will affect SalMar is currently difficult to say, says Runar Sivertsen to the national broadcaster NRK.
Robert H. Eriksson, CEO of another employer body Seafood Companies, said: “This is very serious for an industry that is already facing significant challenges related to market access, cost levels and geopolitical uncertainty.”
The industry points out that the United States is an important and growing market for Norwegian seafood, and are concerned that the tariff will make Norwegian products less competitive.
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