Published 1 year ago • loading... • Updated 1 year ago
In bid to save shipyards, US set to charge fees on Chinese ships
The US aims to revive its shipbuilding industry, currently just 0.1% of global output, by charging fees on Chinese ships; China is imposing similar fees on US vessels.
The US will charge fees on Chinese ships docking at US ports to address China's dominance of the global shipping sector and incentivize US shipbuilding.
China will impose reciprocal fees on US ships visiting Chinese ports starting the same day.
The fees are part of an escalating trade dispute between the world's two largest economies, heightening fears of global economic disruption.