Fossil fuel and agriculture industry executives on Wednesday criticized a plan by President Donald Trump's administration for big fees on China-linked ships entering U.S. ports, arguing at a hearing in Washington that
Fossil fuel and agriculture industry executives on Wednesday criticized a plan by President Donald Trump's administration for big fees on China-linked ships entering U.S. ports, arguing at a hearing in Washington that the move would hobble their ability to export everything from coal to soybeans.
The proposed fees on China-built vessels could top $3 million per U.S. port call.
The administration says the fees would curb China's commercial and military dominance on the high seas and promote a U.S. shipbuilding renaissance.
Opponents say the plan could backfire on farmers, miners and other groups that Trump hopes would drive orders at domestic shipyards. Few vessels would be exempt, making U.S. export prices unattractive and foisting up to $30 billion of annual import costs on American consumers.
"The suggested policies do not punish China as intended, but rather punish American industry and will put American laborers out of work," said Gregory Kravitz, senior vice president of transportation at Oxbow, a South Texas-based oil and gas company, at the congressional hearing.
Groups have asked the U.S. Trade Representative for exemptions to the plan or phased-in fees, since it will take several years for U.S. shipbuilders that turn out around five ships per year
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