Save Our Shrimpers Act
This bill requires U.S. representatives at global development banks to oppose any international loans or financial aid that support foreign shrimp farming, processing, or exports. This restriction is designed to reduce foreign competition for American seafood producers over a seven-year period. The Secretary of the Treasury could waive this requirement for a specific project by notifying Congress that doing so serves U.S. national interests.
What this bill touches.
Who it helps · who it burdens.
Who it burdens
- U.S. Department of the TreasuryRequires the Secretary to direct U.S. representatives to oppose international financial institution assistance for foreign shrimp projects and requires congressional notification if a waiver is issued.
- U.S. Executive Directors at international financial institutionsRequires U.S. Executive Directors at international financial institutions to vote against and oppose loans or financial aid for foreign shrimp farming, processing, or export projects.
Who opposes it
- Foreign shrimp farming, processing, and export projectsThe bill directly directs the U.S. to use its voice and vote to block international financial institution funding for their shrimp farming, processing, or export projects.
The provisions, in plain language.
Requires U.S. representatives at international financial institutions to oppose loans or other financial aid for foreign shrimp farming, processing, or export projects for seven years.
Allows the Treasury Secretary to waive the requirement to oppose a project if they notify Congress that granting the waiver is in the national interest of the United States.