US imposes a rising anti-dumping duty on Viet Nam’s shrimp exports
July 29, 2017 | 07:05 AM GMT+7
An increase by 0.26 per cent from 1.16 to 1.42 per cent in the anti-dumping duty (ADD) will be imposed on shrimp exported to US during the period of 12 months since February, 2013, a move as a result of change of reference country.
US increases anti-dumping duty on Viet Nam’s shrimp exports. Photo: Internet
This decision has made by the US Department of Commerce after new calculation method is applied. To calculate the ADD on Viet Nam’s shrimp imports, a third country with economic scale similar to Vietnam will be chosen as the basis for calculations.
Previously, Bangladesh was chosen as the reference country. However, due to complaints by some American shrimp processors and ship owners, India is chosen as reference country in this year.
Based on this change, the US Department of Commerce decides to increase the ADD on Vietnamese shrimp exports from 1.16 to 1.42 per cent.
US has become biggest shrimp import market of Viet Nam since 2013. The export turn-over of shrimp to US reached US$830.997 million, accounting for 54 per cent of the total seafood export turnover of Vietnam in 2013. It is clear that an increase by 0.26 in the ADD has a remarkable on impact.
In fact, Vietnamese companies exporting shrimp to the US have to pay a deposit at the time of exportation. The difference due to increase in the ADD will be deducted from the deposit. It means that the price of shrimp sold to the US market will increase, affecting the competitiveness of Vietnamese shrimp products in the US.
Earlier this year, the US Department of Commerce has also decided to extend the ADD on shrimp imports from Vietnam, Thailand, India and China for five years. The ADD applicable to specific periods of time will be determined following administrative reviews by the US Department of Commerce. The U.S. International Trade Commission (ITC) said in a statement that the revocation of the existing anti-dumping duty orders could lead to continuation or recurrence of material injury within a reasonably foreseeable time.
As planned, the US Department of Commerce will implement the next administrative review on ADD on Viet Nam’s shrimp exports in 2018. Possibly, Bangladesh will not be chosen as reference country in the next review.
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