Trump Tariffs Hit Andhra Pradesh: Rs 250 Billion Loss, CM Naidu Demands Action

Andhra Pradesh CM Chandrababu Naidu has appealed to the Modi government at the centre to help the fish farmers. Read the full story to know more.

Trump Tariff: America has imposed a 50% tariff on India. The impact of Trump's tariff is now being felt on the economy. Shrimp exporters in Andhra Pradesh have suffered a loss of ₹250 billion. A tariff burden of approximately ₹60 billion is being imposed on nearly 2,000 containers being exported to America. Due to this, Andhra Pradesh CM Chandrababu Naidu has appealed to the Modi government at the centre to help the fish farmers. Naidu said that the state's fish farmers and farmers are facing a serious crisis. In fact, after the announcement of Trump's 50% tariff, along with a 5.76% countervailing duty and a 3.96% anti-dumping duty, the total tariff has reached 59.72%.

Naidu, the chief of the NDA's ally TDP and the state's CM, said that it is necessary to take a national-level decision to protect the fish farmers from losses. The CM appealed to the centre to explore measures to increase domestic consumption. He has written letters to Union Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal, and Fisheries Minister Rajiv Ranjan alias Pappu Singh. In this, an appeal has been made to formulate a plan to expand the domestic market for shrimp.

Loss of over ₹210 billion

CM Naidu said that Andhra Pradesh has an 80% share in the country's total shrimp exports and a 34% share in marine exports. The annual export of which is approximately ₹212.46 billion. 2.5 lakh families in the state are directly involved in fishing. A total of 30 lakh people are associated with the fisheries business. People of the state are being badly affected due to Trump's tariff.

The Telugu Desam Party chief said that the American tariff has had the most impact on shrimp exports. The Chief Minister said that the state government has already started relief measures. For example, after discussions with fodder producers, a reduction of ₹9 per kg has been made in the maximum retail price of aqua feed. Subsidised supply of transformers is also being considered. He requested bank assistance for exporters and aqua companies, including a 240-day moratorium on loan and interest payments, interest subsidy, and a temporary exemption of 5% GST on frozen shrimp.

Centre should explore markets other than America

In addition, he appealed to the centre to focus on diversifying export markets other than America. He suggested entering into Free Trade Agreements (FTAs) with the European Union, South Korea, Saudi Arabia, and Russia to boost exports. The Chief Minister also demanded interim financial assistance for exporters, clarity on tariff/tax relief schemes. Naidu said that exporters are fully prepared to send shrimp, fish and crab to the European Union.