The federal government is rolling back counter tariffs on the American seafood industry as the trade conflict between our two nations continues.
They initially announced a 25 percent counter tariff in response to U. S. tariffs earlier this week, but according to Finance Canada, they have removed seafood and fish products from that list following feedback from the industry.
They stated they are “continually working with Canadian industries to assess the effectiveness of these measures, with a primary focus on industries that have been targeted by U. S tariffs.”
The Fisheries Council of Canada estimates that the Canadian seafood sector is valued at $9 billion, and both Canada’s and America’s seafood markets are closely interconnected.
Susan Collins, the Republican senator from Maine took to X to commend the decision.
“I very much appreciate Canada’s decision to remove seafood and fish products from its retaliatory tariff list. These tariffs would have caused tremendous harm to Maine’s lobstermen, disrupting one of their most important markets during the fall fishing season,” said Collins. “I urge the U. S. to respond to this show of good faith from our Canadian friends by returning to the negotiating table and working to amicably resolve this trade dispute. Canada is not China. Canada is one of our closest allies and largest trading partners. Our economies are inextricably linked, especially in the border regions.”
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Lake America?
Despite these adjustments, U. S President Donald Trump has maintained his stance on renaming Lake Ontario to Lake America. On Thursday, August 27 he signed an executive order for this name change to take effect immediately. “The lake change, the Lake of America was something I’ve been thinking about for a long time actually. As you know we took something called the Gulf of Mexico and changed it, and now it’s very routinely called the Gulf of America,” says Trump in a video posted to the White House Facebook page. He added that now that the U. S. has a gulf and a lake, all they need is an ocean. “Maybe we’ll have to change the name of the Atlantic or Pacific,” said Trump. “Maybe we’ll change them both.”Carney says name not changing
In reaction to Trump’s executive order, Prime Minister Mark Carney stated on social media that Lake Ontario’s name will not be changing.Source link
