RELEASE
Palazzo Testifies at Trade Commission Shrimp Sunset Review
Washington, DC – Congressman Steven Palazzo (MS-4) testified today at the U.S. International Trade Commission during its review of the effects of anti-dumping duty orders on the shrimp industry. During his testimony Palazzo stated:
“I am happy to be here today to express my support for the continued imposition of antidumping duty orders against unfairly traded frozen warm water shrimp imported from Brazil, China, India, Thailand, and Vietnam. I believe that the continuation of these orders is vital to the future stability of the domestic shrimp industry, including my constituents in the 4th Congressional District of Mississippi.
“Today, shrimp processors and harvesters not only in Mississippi, but Gulf-wide and nation-wide, are being challenged by a different type of problem. Americans are consuming more shrimp than ever, but also increasingly turning to dumped imports rather than domestic product.
“Since the orders went into effect in 2005, however, conditions have improved. The volume of imported shrimp in the market has remained below peak levels and domestic prices have stabilized. Shrimpers are putting their boats back in the water, and landings at Mississippi ports have increased 67 percent since 2010.
“I believe in free trade but it must also be fair trade, based on market economics.”
You can read Palazzo’s full testimony here.
The seafood industry was established in the state of Mississippi in the early 1860s and by the turn of the nineteenth century, Biloxi had become the “Seafood Capital of the World.” Today, the seafood industry directly supports 4,700 jobs and provides more than 79 million dollars in annual income in our state. The Mississippi seafood industry has a value-added economic impact of over 102 million dollars.
In the last few decades, several countries have been “dumping” foreign shrimp into the American markets at prices below the cost of production here at home. The ITC has imposed anti-dumping orders on foreign importers to ensure a level playing field for the American shrimp industry. On May 2nd, the Commission will take up the issue of extending these orders.
###
3/16/17
Magnolia Tribune
