US President Donald Trump has imposed a 26 percent counter -tariff (recipe -rifle) on India. It is expected to have an impact on many sectors of the country. Even it is likely to have an impact on the export business of the country’s ‘Machhi Market’ i.e. marine goods. After all, how will it affect the export of sea goods of the country.
India exports billions of dollars of sea products every year. In the financial year 2023-24, India exported $ 2.5 billion marine products to the US. Now Trump tariff can affect this entire business.
Shrimp business can be harmed
About 92 percent of which is exported to the US from India, only 92 percent is shrimp. India is one of the largest suppliers to supply shrimp to America. Apart from this, many types of fish are also exported from India. Now that India has been imposed 26 percent tariff, it is possible to affect the export of this sector.
Additional burden of 600 crores
Pawan Kumar, president of the Indian Seaval Export Association, an organization of traders engaged in fisheries export business, says that Trump Tariff will increase the burden of about Rs 600 crore on India’s exporters. He said that most of the export orders in this sector are doorstep delivery. Therefore, the duty on goods has to be given to exporters.
The impact of this high tariff on India’s marine product exports can be seen from April 9, as currently 2000 containers of these products are in the US market. There are seas in India such as shrimp, sharks, tuna, salfish, Hilsa, sardine, mackerel and whale sharks.
Ecuador benefits to India
America has imposed a 26% recipe tariff on India. Whereas in this case, only 10% tariff has been imposed on Ecuador. Because of this, the ecuador can benefit in the export of the sea product. At the same time, India, which exports the most seafood to America, can suffer a lot of damage.
The US has charged 46% on Vietnam and 32% percent on Indonesia. Ecuador will also benefit at the cost of these two countries. Due to Trump Tariff, Ecuador can become the largest shrimp supplier in the American market and replace India.