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Monday, June 24, 2024

U.S. reduces antidumping taxes on Vietnamese catfish

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HCMC – The U.S. Department of Commerce (DOC) has announced the official results of its 15th period of review (POR15) and the lowering of antidumping tariffs on tra and basa fish imports from Vietnam.

This is considered good news for local fish exporters as the coronavirus pandemic is expected to affect the local fish farming sector, according to the Trade Remedies Authorities of Vietnam, under the Ministry of Trade and Industry.

The final antidumping tax rate for local businesses that responded to the questionnaire and cooperated with DOC has been set at US$0.15 per kilogram (equivalent to 3.8% of the export price), much lower than the rate set in POR14, at US$1.37 per kilogram.

Tra fish and basa fish products shipped to the United States between August 1, 2017, and July 31, 2018, will be eligible for this tax rate.

Meanwhile, the rate of US$2.39 per kilogram remains unchanged for other local catfish exporters who were not examined by DOC.

Most major Vietnamese exporters including Vinh Hoan JSC and Bien Dong Seafood Company will continue to enjoy the tax exemption.

Local tra fish exporters have encountered multiple export restrictions imposed by many countries, but they have made great efforts to remove them and have maintained an export value of over US$2 billion over the past two years.

The United States has imposed antidumping taxes on Vietnamese tra fish since 2003 and has carried out annual reviews.

Since DOC is working on POR16, the Ministry of Industry and Trade has advised local exporters to continue coordinating with and providing accurate information to DOC for positive final results.

Further, the ministry will keep teaming up with other ministries, the Vietnam Association of Seafood Exporters and Producers and the relevant exporters to take crucial steps to protect the rights and interests of the local tra fish sector.

Last year, Vietnam exported over US$2 billion worth of tra fish, down some 11% year-on-year, according to data from the Vietnam Pangasius Association.

The outbound sales of Vietnamese tra fish have experienced mounting difficulties year-to-date due to the coronavirus outbreak in many parts of the world.


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