US sees sharp rise in shrimp prices amid Trump tariffs: Report

US shrimp prices are climbing sharply as tariffs target the country’s primary supplier, India. This crustacean has become one of the earliest food items to experience significant price hikes due to President

Trump’s trade measures, according to a report on The Financial Times.

Imports of shrimp from Ecuador, another key supplier, currently face an average tariff of 21.9%.

As per the report, the average wholesale price for a pound of peeled and deveined tail-on white shrimp has climbed to $6.25, marking a 21% rise since April. This increase follows tariffs imposed by President Trump on Indian shrimp imports, initially set at 25% over India’s purchases of Russian oil, before being doubled to 50% in August.

Restaurants that have relied on Americans’ love of shrimp to attract customers in recent years are now having to adapt, as concerns over the nation’s slowing economy lead more people to choose dining at home over eating out. The economic uncertainty is prompting a shift in consumer behaviour, forcing eateries to reconsider their menus and pricing strategies to maintain footfall.

In recent years, the popularity of shrimp among Americans has grown alongside a broader trend towards high-protein diets, which has also boosted the consumption of beef and chicken. Shrimp offers a comparable protein content but with fewer calories, making it a favoured choice for health-conscious consumers, says the report in the Financial Times.

According to Gary Morrison, head of strategy at seafood commodity price reporting agency Undercurrent News, restaurants and retailers have largely shielded consumers from price hikes by accelerating imports of frozen shrimp before the tariffs came into force. However, many of these stockpiles are now being depleted, creating fresh pressure on prices and supply.

Shrimp fishermen in Louisiana and Florida have welcomed the tariffs as a vital boost to their industry, which has suffered from lower wholesale prices due to imports over recent years. However, the seasonal catches from these states cannot replace the roughly 90% of the US shrimp supply that is farmed overseas, according to the National Fisheries Institute, the country’s seafood trade association.