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The 15% U.S. Tariff: A Reminder of Our Structural Exposure

The United States’ new 15% tariff on imported seafood is unlikely to significantly affect the Maldives directly, as the U.S. accounts for only a small share of Maldivian tourism and merchandise exports. However, indirect exposure may exist through Thailand, which imports nearly half of Maldives’ merchandise exports, mainly raw and frozen tuna. Thailand processes this fish and exports canned and value-added seafood products to major markets including the United States. If Thai seafood exporters face higher costs due to the tariff, pressure may eventually affect procurement prices for Maldivian raw fish. For now, the Maldives remains in a cautious “wait-and-see” position.