PORT ARTHUR, Texas , Dec. 21, 2023 /PRNewswire/ — On December 21, 2023, the American Shrimp Processors Association (ASPA) joined in comments to the U.S. Department of Commerce (Commerce) urging the Administration to maintain Vietnam’s status as a non-market economy in antidumping proceedings. On October 30, 2023, Commerce, at the request of the Government of Vietnam, initiated a changed circumstances review to determine whether the country should be graduated to market economy status. If Commerce grants Vietnam’s request, the agency will have to use Vietnamese producers’ own sales and cost data in antidumping calculations, even though those costs and prices remain heavily distorted by government interference. These interventions impact exchange rates, credit, wages, land prices, and many other aspects of Vietnam’s economy.
“It is vital that we retain the right to treat Vietnam as a non-market economy so we can obtain meaningful relief from unfairly dumped shrimp in the U.S. market,” said Trey Pearson, President of ASPA. “Prematurely granting Vietnam market economy status despite the widespread government distortions that persist would greatly undermine the value of the antidumping order our industry has worked so hard to obtain and maintain for almost twenty years.”
Vietnam was the fourth largest source of U.S. shrimp imports in 2022, accounting for nearly 113 million pounds of imported shrimp valued at nearly $687 million. Earlier this year, the U.S. International Trade Commission determined that revoking the antidumping order on Vietnam would cause injury to the already vulnerable domestic shrimp industry to continue or recur. In addition, in petitions ASPA filed in October of this year, ASPA documented 40 different government subsidy programs that benefit shrimp producers in Vietnam.
“Vietnam’s economy does not operate on market principles, causing direct harm to domestic shrimp producers,” Mr. Pearson continued. “Granting Vietnam’s request would only hurt domestic industries, including the many small, family-owned business in the Gulf shrimp industry that rely on strong trade enforcement to compete.”
More information on the efforts of ASPA and its members can be accessed via www.americanshrimp.com.
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SOURCE American Shrimp Processors Association
