Shrimp Trade Shaken: Trump's Tariffs Stir Global Seafood Market

President Trump's tariffs threaten India's shrimp exports, leading to lower demand and financial losses for Indian farmers. While Ecuador benefits from a lower tariff rate, India seeks alternatives to sustain its $7-billion seafood export industry. Tariff disputes impact global shrimp trade dynamics.

The turbulence from President Donald Trump's tariffs could disrupt global shrimp shipments to the United States, threatening India's robust shrimp export market. With a potential 26% tariff, Indian shrimp exporters are facing renegotiations with U.S. buyers, who dominate the country's $7 billion seafood export industry.

As India's farmers feel the pressure of shrinking demand, Ecuador emerges as a surprising beneficiary due to a lower 10% tariff rate and its proximity to the U.S. However, even Ecuador faces challenges in replacing India's dominant production, foreseeing increased competition in global markets such as China and the European Union.

Despite operational shifts, the U.S. remains a crucial market. Indian exporters continue advocating for trade talks to win tariff exemptions, emphasizing the significant impact on profit margins and long-established retailer relationships that could be jeopardized by these tariff increases.

(With inputs from agencies.)