High US tariff comes 'shocking'; to hit India's shrimp exports: Agri-economist Ashok Gulati
US President Donald Trump's decision to impose higher tariff on all Indian goods is "very bad" and "shocking", Gulati said, adding that he had expected a tariff of only 10-15 per cent.
"This clearly shows Trump is unpredictable and punitive," he told PTI. Gulati said the move will "severely impact" the country's shrimp exports and Equador with lower tariff and closer geographical location to America will gain. Apart from shrimp exports, India will see the impact of higher US tariff on textiles.
"The huge advantage we gain with India-UK free trade deal will get neutralised with the high US tariffs," he added. India's shrimp exports in the 2024-25 reached a value of approximately USD 4.88 billion, accounting for 66 per cent of the total seafood exports.
The US and China remain the top markets for Indian shrimp, with the US taking nearly half of the export volume for raw shrimp varieties.
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