Potential trade barriers threaten Vietnam's US shrimp exports

Published Jan 16, 2024

Tridge summary

Vietnamese shrimp exports to the U.S. fell by 20% in the first 10 months of 2023, indicating challenges for Vietnamese exporters in 2024 due to U.S. Department of Commerce investigation. The DOC has launched countervailing duty investigations on frozen warmwater shrimp of Ecuadorian, Indian, Indonesian, and Vietnamese origin, which poses even more challenges for the Vietnamese shrimp sector. The American Shrimp Processors Association opposes Vietnam's request to upgrade its status to market economy to gain relief from dumped shrimp in the U.S. market.

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Original content

Vietnamese shrimp exports to the U.S. declined in 2023, with challenges for Vietnamese exporters set to intensify further in 2024 due to an ongoing investigation by the U.S. Department of Commerce (DOC) and the implementation of enhanced domestic protection measures pushed by the U.S. shrimp industry.Shrimp exports to the U.S., Vietnam's top shrimp buyer, totaled USD 589 million (EUR 529.3 million) in the first 10 months of 2023, down 20 percent year over year, despite consecutive months of growth recorded between July and October, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).The decline is likely to worsen in 2024 on the heels of the U.S. DOC’s launch of countervailing duty investigations on frozen warmwater shrimp of Ecuadorian, Indian, Indonesian, and Vietnamese origin, announced on 15 November 2023. Additionally, the department announced antidumping duty investigations on frozen warmwater shrimp from Ecuador and Indonesia.The recently ...

Source: Seafoodsource