US to pause tariffs on Canada after Trudeau call
There was a great deal of relief among Canadian fish farming and fishing companies last night after it was announced that US President Donald Trump’s proposed tariffs of 25% on Canadian goods, set to come into effect today, will be postponed for at least 30 days.
The unexpected halt comes after Trump and Canadian premier Justin Trudeau spoke over the phone and agreed to measures that will reinforce their border and crack down on illegal drugs and crime.
A similar arrangement has also been agreed with Mexico which was also in the firing line.
Canada supplies seafood worth CA $5bn (£2.78bn) a year to the US and there were fears that the tariffs would severely hit that business.
It is now hoped the two countries will work out a more amicable arrangement with Canada working to control the cross-border smuggling of drugs, which Trump has presented as the rationale for his controversial move.
Trudeau said Canada is reinforcing the border with new helicopters, technology and personnel and stepping up its co-ordination with American officials to stop the flow of fentanyl.
Canada has also announced the halting of retaliatory measures against the United States.
The BC Salmon Farmers Association said: “At a time when food security and economic stability are top priorities, Canada has an opportunity to strengthen its commitment to sustainable, healthy, and locally produced food.”
But Ontario Premier Doug Ford was less conciliatory saying: “Make no mistake, Canada and Ontario continue to stare down the threat of tariffs. Whether it’s tomorrow, in a month or a year from now, President Trump will continue to use the threat of tariffs to get what he wants.”
He said that the effects of the looming trade war are already being felt by businesses on both sides of the border, and that the US and Canada "need to remain united and focused on the real trade war we’re fighting, with China".
Meanwhile, salmon stocks took a hammering in Oslo yesterday with Mowi, Lerøy, SalMar and Bakkafrost all between 3% and 4 % down.
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