The government of Newfoundland and Labrador is redirecting nearly $6 million to help the province's fishing industry explore diversified markets as threats of tariffs from the United States loom.
"Although we've been given a temporary reprieve, we do not know where this is going to go. So we are exploiting that time period, that interim period of these 30 days, to really, really prepare and ratchet up our response," Fisheries Minister Gerry Byrne told CBC News on Tuesday.
"Market diversification is core to that response."
The money, totalling $5.75 million over the next two years, was originally allocated for companies under the Association of Seafood Producers to study quality issues.
Byrne said it was unspent and the tariff threats warrant the redirection of funds.
The money will now be used to investigate market opportunities in Europe and Asia. Applications for the funding have to be made through the Department of Fisheries.
The United States is a dominant buyer of Newfoundland and Labrador snow crab. About 90 percent of snow crab harvested in the province last year went south of the border.
