ST. JOHN’S, NL – A recent trade deal between Canada and China is good news for Newfoundland and Labrador fishermen. Especially crab and lobster fishermen as price negotiations get underway for the start of the 2026 season in April. After the imposed tariffs from the USA and President Donald Trumps trade wars last year this is welcome news.
Effective March 1, 2026, Chinese tariffs on Canadian lobster and crab will be eliminated. Previously, these tariffs were as high as 25%. The removal of tariffs opens up the Chinese market, which is a major consumer of seafood. This is expected to increase demand for Newfoundland’s lobster and crab and see higher prices paid to fishermen and demand increases.
Fishermen in Newfoundland and Labrador are already seeing an increase in prices at the wharf due to the anticipated demand from China. This is viewed as a significant win for local fishermen.
The lobster fishery in Newfoundland performed well in 2025, especially compared to Nova Scotia, where lower landings affected prices. The lifting of tariffs is expected to further stabilize and potentially increase prices for Newfoundland fishermen.
The Chinese tariffs were imposed as retaliation for Canada’s tariff on electric vehicles. The deal between Canada and China, comes as Prime Minister Mark Carney, aims to enhance trade relations and reduce tariffs on various products.
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