US lowers anti-dumping tax on Vietnamese shrimp

The US Department of Commerce has reduced the anti-dumping tax levied on Vietnamese shrimp to an average of 0.91% after the latest administrative review.

 

Photo for Illustration (Photo: Thai Thien).

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the figure is below the 0.93% average announced in the preliminary results for the review period from February 1, 2013 to January 31, 2014.

It is also a sharp reduction from the 6.37% anti-dumping duty imposed in the previous administrative review.

 

VASEP said the US Commerce Department’s decision to cut the duty was based on reliable data from the three countries of Bangladesh, India and Indonesia to calculate the prices of Vietnamese shrimp.

 

It is predicted that lower tax rates will help boost the shipment of Vietnamese shrimp to the US in the remainder of 2015 after a 50% drop to US$370 million in the first eight months of 2015.

 

Last year, Vietnam’s shrimp exports to the US earned more than US$1 billion. The US is the largest market of Vietnamese shrimp, accounting for one fifth of total shipments.

 

Currently Vietnamese shrimp exporters are facing increased competition from regional countries such as India and Indonesia.

 

(Source: nhandan.org.vn)