economy
Canada pulls back on some tariffs after seafood industry backlash
Canada on Wednesday reversed some retaliatory tariffs it placed on the United States after facing backlash from the seafood sector.
TL;DR
- Canada reversed some retaliatory tariffs on the U.S. targeting the seafood sector.
- The change removes a 25% import fee on Maine's lobster industry.
- Canadian stakeholders expressed outrage over being consulted about the tariffs.
- The tariffs were seen as a threat to the multibillion-dollar trade system between Maine and Canada.
- Canada's tariff list has been reduced from over 800 items to 629.
- The original tariffs were a response to U.S. tariffs imposed by President Donald Trump.