Mowi CEO warns of “triple whammy” threat to Norwegian aquaculture amid US tariff shock
Mowi CEO Ivan Vindheim has issued a stark warning to Norwegian lawmakers, urging them not to impose additional burdens on the aquaculture sector as global trade conditions deteriorate.
In a column published Saturday in E24, Vindheim responded to the United States’ sudden imposition of a 15 percent tariff on Norwegian goods, including salmon. “Tariffs on Norwegian exports to the US are now a fact,” he wrote. “Overnight, President Trump has imposed a new 15 percent tax on all Norwegian goods sold to the US market, including seafood.”
Vindheim emphasised the scale of the risk to Norway’s economy. “The US is an important market for Norwegian salmon, and this affects one of Norway’s largest export industries. One in five salmon in the world is actually eaten in the US.”
While Mowi, the world’s largest salmon farmer, is adjusting to the new reality, Vindheim cautioned that the situation could worsen. “We must avoid a ‘triple whammy’ – where we not only face tariffs in the US, but in the worst case scenario also face retaliatory measures in the EU,” he wrote. “After all, Europe is still by far our most important market.”
Vindheim also directed his warning at the domestic political agenda. “We haven’t experienced [stability] in recent years,” he said, referring to regulatory changes in Norway. “The most important thing now is that the Labour Party and the Storting do not impose new burdens on the industry.”
“We ask for one thing: No new taxes, fees, requirements or regulatory changes that weaken the competitiveness of Norwegian aquaculture in a period when the international framework conditions are under strong pressure.”
The remarks come as the Storting prepares to consider both the Animal Welfare Report and the long-anticipated Aquaculture Report – two documents that could shape the future of the industry.
“We need peace so that we can continue to create value and jobs along the coast,” Vindheim concluded.