The head of the U.S. House Committee on Oversight and Accountability is calling for an investigation of the U.S. Treasury Department to determine whether the government is actively opposing international funding for foreign shrimp aquaculture production, as required by law.
Committee Chair U.S. Representative James Comer (R-Kentucky), U.S. Rep. Clay Higgins (R-Louisiana), and U.S. Rep. Troy Nehls (R-Texas) have sent a joint letter asking the Government Accountability Office (GAO) – a federal watchdog organization – to examine whether the department has opposed international financial assistance sent to foreign shrimp-farming operations that threaten America’s domestic shrimp sector.
U.S. law requires the Treasury Department to use its director positions at international financial institutions like the World Bank and the International Monetary Fund to oppose economic assistance to industries whose exports could hurt U.S. producers.
The American shrimp sector claims that there is no evidence that the department has acted in compliance with that law regarding international financial support for shrimp aquaculture projects, such as those funded by the World Bank.
“It has come to our attention that the U.S. Treasury Department may not be in compliance with statutory requirements to oppose projects seeking economic assistance before international monetary institutions that pose direct competition to American industries,” the lawmakers said in the joint letter. “This role is crucial to ensure American tax dollars are not used to undermine American industries in international economic decisions while representing the United States on global financial boards like the International Monetary Fund and the World Bank.”
The lawmakers claim U.S. directors at international monetary institutions have either supported or abstained from voting on financial support for ...
