Coming as a blow to the USD 4.7 billion Indian seafood export business, the United States International Trade Commission (USITC) with unanimous voting established the anti-dumping regulation on imports of frozen warm water shrimps for five years.
The USA is the largest importer of Indian seafood products with a share of 28.46% in terms of the dollar. The US already had an anti-dumping duty order on the imports of perishable products from China, Thailand, and Vietnam, that will remain intact.
According to the Act, the US Department of Commerce (DoC) will revoke an anti-dumping or countervailing duty order, or terminate the suspension agreement, after five years if the DoC and the USITC determine that the decision will not invite dumping into the economy or material injury (USITC) within a foreseeable time.
In the year 2015-16, India’s total export to the US stood at USD 1,335.
Source: indiainfoline.com