New US tariffs pose risk to global salmon trade, with Norway hit hardest
A new US tariff regime announced by President Donald Trump late Tuesday threatens to disrupt the global flow of farmed salmon, with Norwegian exporters facing the steepest penalties.
The United States, which has become Norway’s single most valuable seafood export market, will impose a 15 percent tariff on Norwegian salmon as part of sweeping new trade measures. In comparison, salmon from the United Kingdom, Iceland, Chile, Australia, and New Zealand will face a 10 percent duty, while European Union countries face a 20 percent tariff.
The announcement comes just days after Norway reported a record-breaking first quarter for seafood exports, driven in large part by demand from the US. In the first three months of 2025, salmon exports to the US rose 47 percent in value year-on-year, reaching NOK 3.4 billion ($330 million), with volumes up 56 percent.
The new tariffs could put a sudden brake on that growth.
Presenting the tariff package, Trump said: “Jobs and factories will return to the US. This will truly be a golden age for America.”
He described the new measures as a form of reciprocal justice: “They charge us, we charge them. How can anybody be upset?”
Analysts and exporters alike are now watching closely for retaliation or exemptions — and bracing for disruption in the second quarter.