India’s seafood exporters are getting ready to ship 35,000-40,000 tonnes of shrimp to the USA with orders remaining secure after US President Donald Trump paused a deliberate 26 per cent reciprocal tariff, decreasing the obligation to 10 per cent, trade officers mentioned on Monday.
US President Donald Trump holds a chart subsequent to US Secretary of Commerce Howard Lutnick as Trump delivers remarks on tariffs within the Rose Backyard on the White Home in Washington on April 2.(Reuters)
“There is a lot of relief now as we are at par with other exporters to the US. Now the shipments that were held back will be processed,” Seafood Exporters Affiliation of India Secretary Basic Ok N Raghavan advised PTI.
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About 2,000 containers of shrimp that had been delayed at the moment are being readied for export following Trump’s April 9 determination to pause the upper tariffs only one week after asserting them on April 2, he mentioned.
The momentary reprieve maintains a ten per cent blanket tariff on all nations besides China, which faces a 145 per cent obligation.
At the moment, Indian shrimp exports to the US face an efficient customs obligation of 17.7 per cent, together with 5.7 per cent in countervailing duties and 1.8 per cent in anti-dumping obligation.
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Business sources defined that Indian exporters usually bear tariff prices below supply duty-paid preparations, that means beforehand contracted shipments would have confronted vital further bills below the upper tariff.
“The 90-day pause provides exporters the opportunity to fulfil these orders without the extra cost,” an trade consultant mentioned.
The affiliation reported no drop in orders from the USA, which stays India’s largest shrimp market each in quantity and worth. India exported shrimp price USD 2.7 billion to the US within the 2023-24 fiscal yr.
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Raghavan urged the federal government to concentrate on securing a “level-playing field” for the nation’s seafood exports throughout upcoming commerce talks earlier than the tariff pause expires.