Washington, DC …The United States International Trade Commission will hold a hearing tomorrow on the mandatory five-year Sunset Review of antidumping tariffs imposed on shrimp imports from Brazil, China, India, Thailand and Vietnam. The antidumping orders have imposed much needed discipline on imports that jumped 38% from 2001 to 2003, while prices for those imports were plummeting rapidly and causing severe damage to the domestic shrimp industry. Since the orders were imposed, imports have dropped by 20% and their share of the US market declined from 59% to 46%. Import prices have also risen since the imposition of the orders, with the exception of a recession-driven decline in 2009.
The International Trade Commission will hear arguments from both the domestic industry and foreign producers. U.S. Senators Mary Landrieu (D-LA), Thad Cochran (RMS) and Roger Wicker (R-MS) will testify at the hearing in support of the industry and importance of the orders. Also testifying is LA State Representative Joe Harrison (R-Dist. 51). Other U.S. Senators, U.S. House Representatives and State Governors have weighed in with letters of support for the domestic shrimp industry. “The orders have imposed stability in an industry that has faced enormous challenges,” noted ASPA executive director David Veal. “The shrimp industry has faced destructive hurricanes, a massive economic recession and the largest environmental disaster in US history. Despite all of those challenges, the industry has survived and will continue to thrive with trade relief in place.”
According to ASPA legal counsel Edward Hayes, “fuel prices are rising and removal of any of the orders would create market destabilization from which our fishermen and processors may not recover.” The domestic shrimp industry cannot afford another onslaught of underpriced imports. “As long as the rules are followed and fair trade exists in the shrimp industry, I believe the industry will continue to reinvest in itself creating opportunities for new generations.”#####
For more information, please contact:
Eddy Hayes, Legal Counsel, ASPA
David Veal, Executive Director, ASPA