Vietnamese shrimp exporters enjoy zero taxes to US

Saturday, 2019-08-24 13:22:02
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The zero per cent tax is great news for the Vietnamese shrimp sector. (Photo: enternews.vn)
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NDO/VNA – The US Department of Commerce (DOC) on August 22 released the final results of the 13th period of review (POR 13), officially imposing zero percent tariffs on 31 Vietnamese shrimp exporters.

The DOC announced that the zero percent tariff will be applied to the two mandatory respondents in the review, Sao Ta Foods JSC and Nha Trang Seaproduct Company. The other 29 enterprises shipping shrimp to the US will be subject to the same rate at zero percent.

Earlier, the DOC in a preliminary finding concluded that the two mandatory respondents did not dump their shrimp products on the US market, making them exempt from anti-dumping tariffs when exporting shrimp to the country between February 1, 2017, and January 31, 2018.

According to Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's shrimp exports to the US have recently bounced back.

In July 2019, shrimp exports to the US market increased 37.2% to reach US$77 million, raising the total turnover in the first seven months of this year to US$327.4 million, a year-on-year rise of 5%.

Apart from the US, Vietnam is exporting shrimp to other major markets such as the EU, the Republic of Korea, and China.