(VOV) – The US International Trade Commission (ITC) has announced Vietnamese shrimp products exported to the country will not face any anti-subsidy taxes.
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In a decision announced on September 21, the ITC said shrimp products from Vietnam and four other countries cause no property losses or threats to domestic American production, concluding the anti-subsidy lawsuit initiated by the Coalition of Gulf Shrimp Industries (COGSI).
Vietnamese shrimp are now freed from the higher Department of Commerce (DOC) taxes imposed under its August ruling and will be subjected to lower rates between 1.15-7.88 percent.
US seafood importers strongly opposed COGSI’s lawsuit. Retail groups such as Sysco, Publix Supermarkets, Censea, and Costco said the DOC’s proposed tax rates were especially unreasonable considering the majority of imported shrimp is farmed stock. The US wild shrimp industry does not service the same market.
The ITC’s decision means any taxes collected from businesses at the previously imposed rates will now be refunded.
On September 10, the DOC acknowledged Vietnamese frozen shrimp does not indulge in US market price dumping and extended a zero percent tax rate to all 33 Vietnamese businesses serving US importers.
According to the Vietnamese Trade Office in the US, the decision affirms all Vietnamese shrimp exporters operate following the laws of the market and have not received any Government subsidies.
They should be treated fairly and equally in a manner reflecting the forward progress Vietnamese and US economic and trade relations have demonstrated in other spheres.