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Vietnam shrimp shipment to US entitled to 0% import duty
The Hanoitimes – The 0% tariff has proven the transparency in operation of Vietnamese enterprises, as well as the accurate business information and data provided in a timely manner to the DOC for its review and consideration.
The US Department of Commerce (DOC) on August 21 announced the result of the 13th period of review (POR13) and decided to impose 0% tariff on over 30 Vietnamese shrimp exporters.
Following the result, two mandatory respondents in the review, including Sao Ta Foods and Nha Trang Seaproduct Company, would be entitled to 0% import duty, which also applies to the other 30 shrimp exporters.Previously, the DOC in its preliminary finding concluded that the two mandatory respondents did not violate US anti-dumping regulation in exporting their shrimps to the US. DOC’s conclusion will exempt these businesses from anti-dumping tariffs when exporting shrimp to the US between February 1, 2017 – and January 31, 2018.Ho Quoc Luc, CEO of Sao Ta Foods, told Tuoitre News the move is welcome news to Vietnam’s shrimp industry and creates motivation for enterprises to continue improving their capacities to restructure the shrimp market.
Following the result, two mandatory respondents in the review, including Sao Ta Foods and Nha Trang Seaproduct Company, would be entitled to 0% import duty, which also applies to the other 30 shrimp exporters.Previously, the DOC in its preliminary finding concluded that the two mandatory respondents did not violate US anti-dumping regulation in exporting their shrimps to the US. DOC’s conclusion will exempt these businesses from anti-dumping tariffs when exporting shrimp to the US between February 1, 2017 – and January 31, 2018.Ho Quoc Luc, CEO of Sao Ta Foods, told Tuoitre News the move is welcome news to Vietnam’s shrimp industry and creates motivation for enterprises to continue improving their capacities to restructure the shrimp market.
Luc expected shrimps exports to the US would increase sharply afte the DOC’s decision.
The 0% tariff has proven the transparency in operation of Vietnamese enterprises, as well as the accurate business information and data provided in a timely manner to the DOC for its review and consideration.
The Vietnam Association of Seafood Exporters and Producers (VASEP) is credited for its supports to Vietnamese enterprises in convincing the DOC to make such decision.
Luc, however, noted Vietnamese shrimp companies should maintain moderate shrimp export growth to the US to avoid unfavorable situation emerged from the ongoing US – China trade war.
Source: http://www.hanoitimes.vn/economy/2019/08/81E0DAF9/vietnam-shrimp-shipment-to-us-entitled-to-0-import-duty/