Vietnam shrimp shipment to US entitled to 0% import duty
The 0% tariff has proven the transparency in operation of Vietnamese enterprises, as well as the accurate business information and data provided in a timely manner to the DOC for its review and consideration.
The US Department of Commerce (DOC) on August 21 announced the result of the 13th period of review (POR13) and decided to impose 0% tariff on over 30 Vietnamese shrimp exporters.
Following the result, two mandatory respondents in the review, including Sao Ta Foods and Nha Trang Seaproduct Company, would be entitled to 0% import duty, which also applies to the other 30 shrimp exporters.
Previously, the DOC in its preliminary finding concluded that the two mandatory respondents did not violate US anti-dumping regulation in exporting their shrimps to the US. DOC’s conclusion will exempt these businesses from anti-dumping tariffs when exporting shrimp to the US between February 1, 2017 – and January 31, 2018.
Ho Quoc Luc, CEO of Sao Ta Foods, told Tuoitre News the move is welcome news to Vietnam’s shrimp industry and creates motivation for enterprises to continue improving their capacities to restructure the shrimp market.
Luc expected shrimps exports to the US would increase sharply afte the DOC’s decision.
The 0% tariff has proven the transparency in operation of Vietnamese enterprises, as well as the accurate business information and data provided in a timely manner to the DOC for its review and consideration.
The Vietnam Association of Seafood Exporters and Producers (VASEP) is credited for its supports to Vietnamese enterprises in convincing the DOC to make such decision.
Luc, however, noted Vietnamese shrimp companies should maintain moderate shrimp export growth to the US to avoid unfavorable situation emerged from the ongoing US – China trade war.
Illustrative photo.
|
Previously, the DOC in its preliminary finding concluded that the two mandatory respondents did not violate US anti-dumping regulation in exporting their shrimps to the US. DOC’s conclusion will exempt these businesses from anti-dumping tariffs when exporting shrimp to the US between February 1, 2017 – and January 31, 2018.
Ho Quoc Luc, CEO of Sao Ta Foods, told Tuoitre News the move is welcome news to Vietnam’s shrimp industry and creates motivation for enterprises to continue improving their capacities to restructure the shrimp market.
Luc expected shrimps exports to the US would increase sharply afte the DOC’s decision.
The 0% tariff has proven the transparency in operation of Vietnamese enterprises, as well as the accurate business information and data provided in a timely manner to the DOC for its review and consideration.
The Vietnam Association of Seafood Exporters and Producers (VASEP) is credited for its supports to Vietnamese enterprises in convincing the DOC to make such decision.
Luc, however, noted Vietnamese shrimp companies should maintain moderate shrimp export growth to the US to avoid unfavorable situation emerged from the ongoing US – China trade war.
20:36, 2024/03/25
Vietnam seeks to strengthen ties with Finland
Vietnam remains a key partner for Finland in ASEAN.
18:15, 2024/03/21
Vietnam urged to soon implement PDP VIII
Ensuring an attractive investment environment "capable of mobilizing capital" is crucial to attracting long-term investment in infrastructure development.
15:41, 2024/03/21
Argentina seeks to elevate ties with Vietnam to strategic partnership
Both sides would continue to accelerate the process of negotiating and concluding the Vietnam-MERCOSUR Free Trade Agreement.
20:36, 2024/03/20
Vietnamese Gov’t to strengthen gold market management
Authorities must strictly enforce laws against gold smuggling, speculation, manipulation, and exploiting government policies to inflate gold prices, posing risks to market stability and safety.
15:06, 2024/03/20
South Korea to increase ODA by 50% to Vietnam in 2024
South Korea is the leading investor in Vietnam with a cumulative total of $86 billion.
13:50, 2024/03/20
Vietnam a priority for Dutch businesses in Southeast Asia
The Netherlands has become Vietnam's largest investor, the second-largest trading partner, and export market in Europe.
- Hanoi promotes legal awareness and consumer rights protection initiatives
- Vietnam seeks Japan’s new-generation ODA for major transport projects
- Finance ministry expected to impose 50% duty on e-cigarettes
- South Korea’s SK Group eyes green hydrogen project in Vietnam
- Vietnam remains world’s 6th largest furniture producer
- Bidding required for int’t football betting business in Vietnam