U.S. Commerce Department Says Shrimp Subsidies Are Undercutting U.S. Prices
The U.S. Department of Commerce says shrimp subsidies in five other nations are undercutting U.S. prices, now they have mandated that importers pay bonds up to 63 percent to able to offset the subsidies.
A group that represents seven states were there is shrimp processing says it's good news for them. A final decision on the issue will not be made until later this summer.
TheCoalition of Gulf Shrimp Industries asked the government to check into the claims after they found out about major subsidies of frozen from China, India, Malaysia, Thailand, Vietnam, Ecuador and Indonesia.
Some of the early findings from Ecuador and Indonesia appear to be too small to be significat, but investigators say they will look further into the issue in the other countries.