The Kerala government is set to hold a meeting to assess the impact of the hefty tariff imposed by the US on imports from India. It said that the 50 per cent tariff announced by the US will badly impact the state economy and exports. At the same time the government has advocated that the central government maintain a tough stand against the US.
“The high tariffs from the US will surely impact our state, especially in the export sector. We are the largest marine producers. Apart from that, there are spices extracts, tea-coffee, cashew and other agricultural products,” state finance minister KN Balagopal told ET. “But the central government should not give in under the US pressure. Once you allow them to increase tariffs on their imports, they will ask for a reduction in export duty from India.”
Balagopal said that the exact impact on the state’s economy is yet to be ascertained.
On August 16, the Kerala government will hold round-table discussions with industry experts, economists, academicians and agriculture and marine producers to assess the impact of the US tariff and the way forward.
Balagopal also suggested that the Centre call a meeting of all the states to devise strategies to deal with the tariff as other states too are going to be affected.
Live Events