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US to Review Duty on Shrimp Imports

Crustaceans Politics +1 more

US - The anti-dumping duty paid by seafood traders in an number of Asian and South American countries on shrimp exports to the US is expected to be reviewed by the United States International Trade Commission (USITC).

The tariffs are automatically review every five years and the anti-dumping duty on shrimp imports from India, China, Brazil, Thailand and Vietnam imposed in 2005 isset for review.

The US state department has asked Indian exporters to submit their requests for the fresh review.

The anti-dumping tariffs were imposed following a lobby from the US-based Southern Shrimp Alliance (SSA). According to a report in the Indian Financial Express the USITC imposed anti-dumping duties are worth billions of dollars of shrimp imports from Asia and Latin America.

In addition to the anti-dumping duty, the US had also imposed a customs bond, which is a cash guarantee collected by US customs against any further rise in the anti-dumping duty, the report says.

The effect of the anti-dumping duty was dramatic on Indian exports. Indian shrimp exporting companies to US fell to less than 75 from 228 at the time of imposition of the punitive duties.

Frozen shrimp exports make up almost half of the value of India's total seafood exports and the US actions have hit the Indian industry hard,, the Financial Express says.