Policy Changes, Financial Interventions Sought to Address the US Tariff Crisis
50% duty hits exports; 2.8 crore livelihoods at risk, say industry leaders
Vijayawada: The Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) has written to the central government, seeking urgent policy changes and financial interventions to address the export crisis caused by the US tariff hike.
In letters to the MSME minister Jitan Ram Manjhi and Commerce minister Piyush Goyal, they noted that the 50 per cent tariff imposed by the Trump administration on Indian shrimp imports have come into effect, in addition to existing countervailing duty (CVD) and anti-dumping duties.
AP Chambers president Potluri Bhaskara Rao and general secretary B Raja Sekhar jointly sent the representation. It stated that Andhra Pradesh, being the largest shrimp-producing and exporting state, was most-severely impacted by the tariff hikes. The livelihoods of over 2.8 crore people engaged in aquaculture, including farmers, fishermen, processors and workers, are now at risk, they said.
The AP Chambers submitted 14 proposals for the Centre’s immediate consideration, including a nationwide campaign to promote shrimp and fish consumption in India. They sought urgent operationalisation of India’s free trade agreements (FTAs) and preferential trade agreements (PTAs) to expand access to alternative markets; and expansion into new export destinations such as the UK, EU, South Korea, the Middle East, Russia and China.
They pleaded for the constitution of a high-powered committee with stakeholders to address issues on a daily basis and duty drawback and freight subsidies to offset tariff costs.
The AP Chambers also sought export credit facilities, soft loans with interest subvention, and increased working capital limits to ease financial stress. Other calls were for direct financial assistance to small and medium aqua farmers and incentives for value addition, processing and re-export strategies.
The representation sought government-backed promotion, branding and certification of Indian seafood exports and facilitation of B2B linkages with buyers in alternative countries.
Bhaskara Rao said, “The livelihoods of millions of aqua farmers and workers in Andhra Pradesh are at stake. Unless urgent policy changes and financial interventions are effected, India risks losing global competitiveness in seafood exports. We strongly urge the Union Government to act swiftly in coordination with the state governments to safeguard this vital sector.”
