There will be no winners: Atlantic Canada braces for impact of U.S. tariffs [Video]

The looming trade war between Canada and the United States raised alarm throughout the Atlantic provinces on Monday as leaders calculated the economic toll of hefty tariffs threatened by U.S. President Donald Trump.

In Newfoundland and Labrador, the executive director of the Association of Seafood Producers said the province’s lucrative crab fishery is in jeopardy, and he’s not sure if it will open as expected next month.

“I cannot sit here today and say there will be a fishery,” Jeff Loder told a news conference in St. John’s. “This is a serious situation … We’re going to do everything we can to have a fishery, but we need to be prepared for whatever transpires.”

The tariffs are the biggest threat to the province’s seafood industry since the 1992 cod moratorium, which wiped out about 30,000 jobs and a centuries-old way of life in Canada’s easternmost province, Loder added.

On Saturday, Trump signed executive orders calling for 25 per cent tariffs …