On April 17, the Trump administration shielded domestic exporters and vessel owners servicing the Great Lakes, the Caribbean and U.S. territories from port fees to be levied on China-built vessels.The Federal Register
On April 17, the Trump administration shielded domestic exporters and vessel owners servicing the Great Lakes, the Caribbean and U.S. territories from port fees to be levied on China-built vessels.
The Federal Register notice posted by the U.S. Trade Representative (USTR) was watered down from a February proposal for fees on China-built ship of up to $1.5 million per port call.
Ocean shipping transports about 80% of global trade - from food and furniture to cement and coal. Industry executives feared virtually every cargo carrier could face steep, stacking fees that would make U.S. export prices unattractive and foist annual import costs of $30 billion on American consumers.
"Ships and shipping are vital to American economic security and the free flow of commerce," U.S. Trade Representative Jamieson Greer said in a statement. "The Trump administration's actions will begin to reverse Chinese dominance, address threats to the U.S. supply chain and send a demand signal for U.S.-built ships."
The fees on Chinese-built ships add another irritant to swiftly rising trade tensions between the world's two largest economies as President Donald Trump seeks to draw China into talks on his new tariffs of 145% on many of its goods.
The revisions made
Content Original Link:
" target="_blank">
