Another shock to H-1B visa? This law wants to implement the US MP India, know what is the Shrimp tariff law?

The ‘Shrimp tariff’ is a proposed US law established by Senator Bill Cassidi and Cindy Hyde-Smith in the US Congress. The main purpose of this law is to stop dumping the Indian shrimp in America. The purpose and reason of this act is the argument of US MPs that India’s business policies promote unfair trading practices, causing huge losses to Louisiana’s local shrimp and catfish industries. He says the bill will protect US producers, processors and consumers from the damage caused by unfair imports. What is the Shrimp tariff law? The Shrimp tariff law The purpose of this proposed act is to prevent the dumping of Indian shrimp in US markets. “By providing equal opportunities, the Louisiana’s seafood and work,” says US representative Cassidi, who proposed the law to the US Congress. If this bill is accepted by a possible impact on the Indian shrimp industry, it could have serious consequences for the Exporters of India: Heavy Losses: Andhra Pradesh, Chief Minister NK According to Chandrababu Naidu, this tariff can cause a loss of up to 25,000 crore for India’s shrimp exporters. Export order Cancellation: There is a possibility of cancellation of more than half of the export order, which will give Indian businesses a huge shock. The stock market is dropping: As a result of this news, the Indian stock market had a major decline in shares of shrimp execution companies. The most important role of Andhra Pradesh: It is important to note that 80% of India’s total export of shrimp comes from Andhra Pradesh, which has more than £ 21,000 crore. Therefore, the state will have a very bad effect on the adoption of this law. India’s export of sea food in the financial year 2024 exported India a total of $ 7.38 billion in Seafoods. America and China were the largest importers of India’s seafood and frozen shrimp were the most prominent export object. This figure shows how important markets the US is in terms of exporting shrimp for India. Share this story -tags