There is competition among Vietnamese shrimp exporters in the US
The US Department of Commerce (DOC) has announced its decision to adjust antidumping duty on Vietnamese shrimp exported to the US between February 1, 2013 and January 31, 2014 from 1.16 percent to 1.42%.
Workers process shrimps for export
|
In previous years, the department used rates from Bangladesh. However, this year, a group of US vessel owners and processors complained, prompting the department to replace Bangladesh with India. Companies that import products from Vietnam into the US have to pay cash deposits and the dumping margins will be taken from these deposits.
The higher anti-dumping duty will increase the price of Vietnamese shrimp in the US, hurting the product’s competitiveness. Tran Van Linh, General Director of Thuan Phuoc Seafood and Trading Corporation, said Thuan Phuoc was one of three companies facing high anti-dumping tax rate during the POR9.
With the re-evaluation, the duty imposed on concerned units may increase and differ, he added, explaining that export countries set anti-dumping tax aiming to protect domestic production. Linh noted that it is even harder for foreign seafood to access the US market as new President Donald Trump’s administration has focused on defending domestic production.
According to Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Producers, US vessel owners and processors complained to the Court of Appeals for the Federal Circuit that Bangladesh’s wage level is too low to be used for duty rates.
Although the court issued the award, Vietnamese companies can bring the case to a higher court, Hoe said, noting that the new duty tax will not be applied until the final judgement is made. Since the beginning of 2017, the DOC extended antidumping duties on frozen shrimp imports from Vietnam for another five years.
15:17, 2024/11/04
Hiring multitaskers: Priority for Hanoi companies
Several sectors experience increased hiring demand in the remaining months of 2024
18:17, 2024/11/03
Hanoi seeks partnerships to build skilled workforce for digital transformation
Vocational training institutions play important roles in developing a quality workforce prepared for large companies.
18:35, 2024/10/30
Hanoi to host Vietnam-Asia Smart City Summit 2024
The summit aims to share best practices and promote cooperation among Vietnam's provinces and cities in building and developing smart cities.
15:53, 2024/10/29
Vietnamese spend $8.9 billion on ecommerce
The total transaction volume in the Jan-Sep period increased by 37.7% compared to the same period last year.
14:48, 2024/10/29
Hanoi steps up inspections to crack down on unsafe food
The purpose of the survey is to gain a thorough understanding of the local food safety situation and to identify non-compliance promptly, allowing for corrective actions to be taken to mitigate health risks.
22:24, 2024/10/23
SEMIEXPO Vietnam 2024 to foster growth of semiconductor industry
The exhibition aims to develop the ancillary industry ecosystem and attract investment from the world's leading semiconductor companies.
- Hanoi targets double-digit growth over next decade
- Hanoi's industrial production shows positive growth
- Hanoi launches Vietnamese Fashion Product Brand Festival 2024
- Exhibition promotes Hanoi's key industrial products
- New partnerships forged at Hanoi Industrial Development Conference
- Hanoi addresses administrative challenges through dialogues