HALIFAX – Nova Scotia’s massive lobster industry is bracing for what’s to come as it deals with the effects of tariffs imposed by China and awaits an identical 25 per cent duty by the United States.
China’s tariffs on Canadian seafood took effect March 20, while the U.S. duties are expected to kick in on Wednesday.
Stewart Lamont, managing director of Tangier Lobster Company Ltd., on Nova Scotia’s eastern shore, says the industry is “incredibly anxious” as it waits to see how prices are affected.
Lamont says demand is currently high despite China’s tariffs because of a lack of lobster on the market ahead of the upcoming spring seasons.
He says the wharf price, which currently sits at around $15 per pound, is likely to drop once the U.S. tariffs are in place and new catches are landed by fishers increasing supply.
Osborne Burke, general manager of processor Victoria Co-operative Fisheries Ltd., in Cape Breton, says the pending U.S. tariffs are particularly concerning to the crab fishery because most of its exports go south of the border.
According to the Nova Scotia government, the province exported $1.2 billion in seafood to the U.S. and $614 million to China in 2024, with lobster being the top export to both countries by far, while crab was the second largest export to the U.S. and fourth largest to China.
This report by The Canadian Press was first published March 29, 2025.
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