The US slightly increased anti-dumping tax on Vietnamese pangasius

Quinoa

Seafood

Vietnam

Regulation & Compliances

Published Mar 26, 2024

Tridge summary

The US Department of Commerce has significantly reduced the anti-dumping tax on frozen pangasius fillet shipments from Vietnam for the period of August 1, 2021, to July 31, 2022, setting it at 0.18 USD/kg for five specific companies, down from the previous rate of 2.39 USD/kg. Despite this tax reduction, Vietnam's pangasius export turnover in February 2024 experienced a 42% decline compared to the same period in the previous year, with a notable decrease in exports to China & Hong Kong. However, there has been a 25% increase in exports to the US market in the first two months of 2024 compared to the same timeframe last year.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Previously, the US Department of Commerce reduced anti-dumping tax on frozen pangasius fillet shipments during the POR19 "review period" - from August 1, 2021 to July 31, 2022 - to 0.14 USD /kg for 5 companies and "nationwide" (including all exporters not eligible for separate tariffs). The previous national tax rate was 2.39 USD/kg. The final tax rate for POR 19 has been set at 0.18 USD/kg for 5 companies: Can Tho Seafood Import-Export Joint Stock Company (CASEAMEX, UPCoM: CCA), Cafatex Seafood Joint Stock Company, Hung Vuong Joint Stock Company (UPCoM: HVG) and its affiliated companies, Multinational Investment and Development Joint Stock Company - IDI (HOSE: IDI), and Loc Kim Chi Seafood Joint Stock Company. They did not mention amending tax rates throughout Vietnam. Vinh Hoan Joint Stock Company (HOSE: VHC), which has long enjoyed zero tax when selling goods to the US, did not sell "investigated goods in the US at prices below normal value (NV) during the review period. " ...

Source: Vietstock