Associated Press Release
NEW ORLEANS (AP) -- The U.S. Department of Commerce says shrimp subsidies in five nations appear to be undercutting U.S. prices. It has ordered importers to pay bonds up to 63 percent to offset the subsidies.
A group representing processors in seven states from North Carolina to Texas says it's good news, but there won't be a final decision until August. The Coalition of Gulf Shrimp Industries asked the government to investigate alleged subsidies of frozen warmwater shrimp from China, India, Malaysia, Thailand, Vietnam, Ecuador and Indonesia.
Preliminary findings released Wednesday say subsidies in Ecuador and Indonesia appear too small to cause any harm. However, investigators will go to those countries as well as the other five for further investigation.
The department will announce its final decision on Aug. 13.
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