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The US Department of Commerce has reduced the antidumping duty on shrimps by 3.32%. The weighted average duty now stands at 7.22%. Shrimp importers are hopeful that this is the first step towards ultimate withdrawal of the duty.
In March 2007, the US commerce department had fixed the antidumping duty at 10.54% on shrimp imports from a number of Asian countries, including India (See earlier report ‘Indian shrimp exports to US fall, amidst allegations of unfair trade barriers').
India has, along with other countries, lodged a complaint against the antidumping duties in the WTO. The hearings are complete and a verdict is expected in October 2007.
According to reports, shrimp exporters will get a duty refund as the new rates are applicable between August 2004 and January 2006. The commerce department is also reviewing the antidumping duty post January 2006.
September 10, 2007
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