Blessing In Disguise As Trump's Reciprocal Tariffs Drop Prawns' Price In Pune

US tariffs on Indian prawns have led to a drop in prices, making them more affordable for Pune seafood consumers.

US tariffs have caused a drop in prawn prices in Pune, making them more affordable for seafood lovers.

Source : Canva

Since US President Donald Trump announced reciprocal tariffs, prawn prices have dropped sharply, making them much more accessible for seafood fans in Pune, The Indian Express reported.

With nearly $1 billion in exports during the most recent fiscal year, the US has been the largest market for Indian prawns. With the introduction of an extra 27%, the tariffs, which previously stood at about 8%, may increase to roughly 45% when paired with countervailing charges, according to The Indian Express.

Despite Trump's announcement of a 90-day halt to reciprocal tariffs for all nations except China, the impact on Indian seafood shipments to the US has already been seen. Because of this, a lot of exporters are cutting back on their shipments, which is increasing the supply of seafood in local markets and lowering prices.

According to the proprietor of the K H Pardeshi Fish Company in Ganesh Peth, the cost of prawns has dropped by almost 20%. As prices have decreased, more people are purchasing prawns, as per Akshay Shambhaji Shinde, owner of the Masooli Wala seafood store in Bhosari. "Because prawns are boneless and easy to eat, mothers especially like to feed them to their kids. Regular customers who used to pay Rs 400 to Rs 450 per kg now only pay Rs 350, which encourages them to buy more", The Indian Express quoted the owner saying.

90-Day Pause Announced By US President For Most Countries, China Tariff Hike to 125%

Donald Trump on Wednesday announced to increase tariffs on Chinese goods to 125%, citing its continued disregard for global market norms. At the same time, he announced a 90-day pause on increased tariffs for other countries as part of his plan.

According to The Washington Post, President Donald Trump announced a 90-day hold on his multiple tariffs on social media when Jamieson Greer, his trade representative, was in a hearing with House members.

Earlier on Wednesday, in response to the US move, China and the European Union launched retaliatory measures. According to a copy of the EU strategy obtained by The Washington Post, the bloc approved tariffs of up to 25 percent on a wide range of American products. For its part, China imposed an 84 percent duty on all US imports.

According to a European Commission statement, these new tariffs target over 20 billion euros worth of US products, including soybeans, motorcycles, and beauty items. The EU's countermeasures will be implemented in three stages: the first set in mid-April, the second will be imposed in mid-May, and the final round will go on December 1, as per the Bloomberg report.

However, the EU emphasised that these retaliatory actions could be reversed if the US agrees to a fair and balanced resolution. These latest measures come in response to earlier US duties on steel and aluminum, while the EU's reaction to Trump’s newest tariff proposals remains forthcoming.