US imposes anti-dumping taxes on Vietnamese shrimp

08/12/2010 12:00 - 421 Views

The US Department of Commerce (DOC) has announced that it will continue to levy anti-dumping taxes on frozen warm-water shrimps imported from Vietnam.

According to the DOC’s ‘sunset’ review at the end of November, Vietnamese businesses will pay taxes ranging from 4.3 or 5.24 percent to as much as 25.76 percent.

The reason for the DOC’s move is that the removal of anti-dumping taxes on Vietnamese frozen shrimp may lead to a recurrence of dumping.

The World Trade Organization (WTO) stipulates that after every five years of anti-dumping taxes, the authorities of the importing country must conduct a sunset review in order to check if the abolishment of anti-dumping taxes on imports could impact or cause losses to domestic manufacturing industries.

According to the WTO’s regulations, if no impact is found or if the losses are insignificant, then the anti-dumping taxes must be abolished.

With this decision from the DOC, Vietnam will need another five years to be able to have these anti-dumping taxes removed while it continues to sue the US through the WTO.

Monday, 12/06/2010 - 12:19 PM

Source: english.vovnews.vn