In a move to bolster domestic shipbuilding and address concerns over China's dominance in maritime logistics, the U.S. government has announced new port fees targeting Chinese-built and operated vessels. Scheduled to take effect in October, these fees will be calculated based on cargo weight or container count, with a cap of five assessments per year.
The initiative aims to incentivize the use of U.S.-built ships and reduce reliance on Chinese maritime infrastructure. While the policy includes exemptions for certain routes and ship types, industry stakeholders have expressed concerns about potential disruptions to global trade and increased costs for consumers.
This development marks a significant escalation in the ongoing trade tensions between the U.S. and China, highlighting the complexities of balancing national security interests with global economic considerations.
Vietnam Steel by Hoa Sen Group
