The US and Vietnam have come to an agreement to resolve two longstanding issues regarding imports of Vietnamese shrimp into the US, the US Department of Commerce said in a release.
"We welcome the resolution of this longstanding issue," said assistant US trade representative Barbara Weisel. "This agreement demonstrates the commitment of the United States and Vietnam to address outstanding issues as we work to take our relationship to the next level."
Vietnam had had two outstanding World Trade Organization disputes against the US, both regarding anti-dumping measures the US had put in place against Vietnam.
As a result of the new agreement, DOC issued the preliminary conclusion that adjusts dumping margin for Vietnamese exporter of frozen warmwater shrimp – Minh Phu Corp – and consider lifting antidumping duty order for this company.
In addition, certain domestic litigation will be resolved and duty deposits will be refunded to the Minh Phu Group.