Trump plans to impose a 25% tariff on Canadian lobsters, and the Canadian dollar depreciates rapidly

On November 26, the fishing season of Canada's largest lobster producing area (Area 33/34) officially began. At the same time, Trump suddenly announced that he would impose a 25% tariff on Canadian imports, which directly poured cold water on Canadian fishermen. Since last week, the Canadian dollar has continued to depreciate against the US dollar. On November 27, the exchange rate rose to 1.4054, a 12-month high, with an average depreciation of more than 6.6%. Although the depreciation of the Canadian dollar is conducive to lobster exports, the United States is Canada's largest trading partner, and many Canadian companies also purchase lobsters from Maine, USA for processing. The depreciation of the Canadian dollar means an increase in raw material costs. Geoff, executive director of the Canadian Lobster Association (LLC), Irvine said: "Normally, Canada buys a lot of Maine lobsters from the United States for secondary processing because the Maine season is usually in the summer ...