US Taxes Brazilian Shrimp. Brazil Reacts Cheerily.

Brazilian shrimp are subject to a 10.4% surcharge on exports to the United States, in compliance with a decision by the US Department of Commerce. American fishermen were originally asking for a surcharge of approximately 60%.

According to Brazil’s Minister of the Special Secretariat of Aquiculture and Fishing, José Fritsch, despite the harm, the decision represented a victory for Brazilian fishermen.


“Our advantage is that a 55% surtax was imposed on China, and, basically, the shrimp China exports to the United States are medium-sized, similar to Brazilian shrimp,” Fritsch pointed out.


The Minister explained that, during the period in which Brazilian companies were consulted by the United States, Brazil set out to seek other markets.


In his view, this brought positive results for shrimp production in Northeast Brazil. “Now we have the Européan market, which assigns even greater worth to Brazilian shrimp,” he said.


According to information from the Spécial Secretariat of Aquiculture and Fishing, Minister José Fritsch believes that the surtax rate, which is far below what many Brazilian producers expected, is mainly the result of efforts made by the Secretariat, together with the Ministry of Foreign Relations and the Ministry of Development, Industry, and Foreign Trade, to convince the American government that the low production cost of cultivated Brazilian shrimp is chiefly due to favorable environmental conditions and the relatively low cost of labor.


The Secretariat informed that the surcharge will only be contested if Brazilian producers decide to question it.


Translation: David Silberstein
Agência Brasil

Tags:

Ads

You May Also Like

Hell’s End

“We are shutting down what can only be described as an inferno. It has ...

Brazil’s Opposition Presidential Candidate Pans Corruption and “Rachitic Growth”

Geraldo Alckmin, governor of São Paulo state, was named this week presidential candidate for ...

State Banks in Brazil Reap Record Profits

Two federally-controlled banks, the Caixa Econômica Federal (basically a savings and mortgage institution) and ...

Brazilian Newspaper Fined US$ 17,000 for Letter “Damaging Honor” of Judge

In Southern Brazil, this past December 5, the State of Rio Grande do Sul's ...

Brazil Embraer’s Very Light Jet Is Star of US Jet Show

Brazil’s aircraft manufacturer Embraer is displaying the interior design of its recently launched Very ...

In Brazil, Talk Is Cheap and Cigarettes Too

World leader in anti-smoking campaigns, Brazil has not managed to prevent more and more ...

Bargain Hunters Reverse Brazil’s Stock Market Slump

Brazilian stocks rocketed higher, as investors went bargain hunting following a recent sell-off on ...

Dilma, Marina, Heloí­sa, 3 Women Who Wish to Be Brazil’s Next President

Brazil's southeastern state of São Paulo governor José Serra and main reference of the ...

Brazil’s Gol Adds 40 Boeing’s Next-Generation 737s to Its Fleet

Brazilian airline Gol has ordered 40 Boeing's Next-Generation 737 passenger aircraft. The announcement of ...

Brazil’s Former Chief of Staff Has His Day Before Ethics Council

A lot is going on in BrasÀ­lia, Brazil’s capital, at the moment. At least ...