Nara Lokesh on US tariffs: 'Working on relief measures for domestic exporters'

Andhra Pradesh IT Minister Nara Lokesh on Wednesday said that his government was working on various relief measures for domestic exporters who have been affected by 50% tariffs by the US. Speaking during a press conference, Lokesh confirmed that the state government is focused on easing the financial burden on exporters in key sectors.

"We have worked on reducing power tariffs for shrimp farmers," Lokesh said, noting the state's competitive disadvantage due to the higher tariffs compared to competitors like Ecuador, which has a 16% tariff rate, while Andhra Pradesh faces an extra 34% tariff.

In September, Andhra Pradesh Chief Minister N Chandrababu Naidu had expressed concern over the impact of American tariffs on the state's shrimp exports, saying it had caused a loss of Rs 25,000 crore to the sector and led to the cancellation of up to 50 per cent export orders.

"The taxes imposed by America majorly hit shrimp exports. It is estimated that a loss of Rs 25,000 crore would have occurred. Up to 50 per cent export orders have been cancelled," said Naidu in his letters to the Central Ministers.

Emphasising that Andhra accounts for 80 per cent of the country's shrimp exports and 34 per cent of marine exports, valued at around Rs 21,246 crore annually, he highlighted that 2.5 lakh families and 30 lakh more from allied sectors rely on the aquaculture sector.