The US Department of Commerce (DOC) has announced anti-subsidy duties on shrimp exports from Vietnam, India, and Ecuador.

Preliminary Decision Raises Concerns

The DOC’s preliminary decision cites unfair advantages gained by these countries and several companies within their borders through subsidizing shrimp exports to the US. This move is deemed necessary to address the imbalance and ensure fair competition within the market.

Implications of this decision mean that the three aforementioned countries, crucial suppliers of shrimp to the US market, might face preliminary anti-subsidy taxes ranging from less than 2% to 196%.

Impact on Key Players

Among the affected entities, the Soc Trang Seafood Joint Stock Company and others are set to face a tax rate of 2.84%, while Thong Thuan Co., Ltd. is dealt a significant blow with a tax rate of 196.41%, attributed to the utilization of unfavorable data.

State media has highlighted the significance of these countries in the US shrimp import market, with figures indicating their substantial contributions. The four nations collectively accounted for 90% of the shrimp imported by the US in 2023, totaling 709,804 tons valued at USD 5.6 billion.