Commerce: Chinese, Vietnamese shrimp dumped on U.S. market
The U.S. Commerce Department issued a ruling Tuesday that Chinese and Vietnamese frozen and canned shrimp were being dumped on the American market.
In its preliminary determinations, Commerce calculated dumping margins ranging from 7.67 percent to 112.81 percent for shrimp imports from China and 12.11 percent to 93.13 percent for similar imports from Vietnam.
Commerce defines dumping as the import of goods at a price below the home-market or a third-country price or below the cost of production.
Imposition of antidumping duties requires affirmative final determinations both from Commerce that dumping occurred and from the U.S. International Trade Commission that the imports hurt American shrimp producers. Final determinations from Commerce are expected by Nov. 24.
Commerce said Customs and Border Protection, in the meantime, will collect a cash deposit or bond on the imports equal to the estimated dumping margin. If Commerce issues a negative determination, the money would be refunded.