Loading Now

Impact of China’s Tariffs on British Columbia’s Seafood Sector

The imposition of new tariffs by China on Canadian seafood and agricultural imports, effective March 20, poses significant challenges to the B.C. seafood sector, already suffering from U.S. tariffs. With exports at risk, industry leaders express concerns regarding job losses and market disruptions. Urgent political advocacy is necessary to address these issues before tariffs take full effect.

The recent announcement from China regarding tariffs on Canadian agricultural imports represents a significant challenge for British Columbia’s seafood sector, which is already facing difficulties due to existing U.S. tariffs. Effective March 20, Beijing will impose a 100 percent tariff on canola and peas, along with a 25 percent tariff on seafood, reflecting Canada’s tariffs on Chinese products like steel and electric vehicles.

James Austin, president of the B.C. Underwater Harvesters Association, emphasized that his members, including geoduck divers off Haida Gwaii, will experience the immediate impact of these tariffs. Compounded by a weak economy in China and a depreciating Canadian dollar, this new trade barrier provides minimal opportunity for fishers to pass costs onto their buyers.

Christine Burridge, executive director of the B.C. Seafood Alliance, described China’s tariffs as a substantial setback for an industry already impacted by U.S. tariffs. She noted that approximately $300 million in exports, particularly for geoduck—90 percent of which is sold to China—will suffer. Moreover, other niche fisheries like sea urchin and crab are also threatened by these tariffs.

The upcoming season for spot prawns, which exports 60 percent of its product to China, will also feel the impact. Mike Atkins, executive director of the Pacific Prawn Fishermen’s Association, mentioned that individual fishers will need to decide how to respond, adding, “it’s definitely going to hurt us.”

Burridge anticipated a slowdown in trade due to these measures and predicted job losses, alongside the tying up of fishing vessels. Moreover, opportunities for diversification are limited, particularly for unique products such as geoduck, which are highly valued in China yet largely unknown in other markets.

Austin articulated a slim hope for a potential resolution before tariffs take effect, but acknowledged the uncertainty in negotiating during the transitional phase of Canadian leadership. He stated, “It’s got to be negotiating on a fair and equitable basis.”

The situation necessitates urgent political discourse to advocate for the interests of the seafood sector amid these mounting challenges, as indicated by industry leaders.

China’s recently announced tariffs on select Canadian seafood and agricultural products pose significant risks to the seafood sector in British Columbia. Facing already existing U.S. tariffs and a challenging economic environment, industry leaders express concern over potential job losses and market instability. There remains a narrow opportunity for negotiation to address these pressing trade issues, highlighting the need for strategic political intervention to seek a fair resolution.

Original Source: www.richmond-news.com

Post Comment