Appeals Court OKs Denial of Interest Offset in Thai Shrimp AD Review

Thai shrimp producer/exporters appealed the decision of the Court of International Trade upholding the refusal of the International Trade Administration to grant an offset for interest income on long-term financial assets when calculating dumping margins, in the February 2007 - January 2008 AD administrative review of certain frozen warm water shrimp from Brazil, Ecuador, India, and Thailand. The Thai producers argued that the long-term financial assets on which they earned interest income was required to be held as collateral for credit lines used for day-to-day operating funds, and the ITA should therefore apply it as an offset to interest expense in the overhead expense ratio that the ITA calculates as a component of normal value (thereby reducing normal value and dumping margins).