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Business & Economy
Fri September 20, 2013
U.S. Panel Rules Shrimp Industry Not Harmed By Imports
A governmental panel has ruled that the U.S. shrimp industry isn't being injured by foreign imports. The news is a blow to North Carolina's shrimp industry.
Earlier today, the U.S. International Trade Commission voted four to two that the domestic shrimp industry has not been harmed by imports from China, Ecuador, India, Malaysia and Vietnam.
Shrimping is the second largest commercial fishing industry in North Carolina, with 6.1 million pounds of shrimp worth 13.3 million dollars netted last year. Shrimp producers in the Gulf and along the east coast have complained that fuel costs have made it hard to compete with shrimp farms in Asia, which benefit from government support.
The trade commission's vote means that the U.S. Commerce Department won't follow through with tariffs on imports from those countries. Shrimp producers can appeal the decision but it's not clear whether they will.