U.S. proposes Chinese-owned shipping fees

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US Politics

Trump administration proposes steep fees on Chinese cargo ships

Summary

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71% Informative

The U.S. has proposed punitive new fees on international shipping that would target vessels owned by Chinese companies or manufactured in Chinese shipyards.

The new policy would charge Chinese -owned cargo ships, as well as third -country flagged vessels built in China , $1 million or more per port-of-call.

The proposal is open for public comment until March 24 , at which point the administration will determine whether or not to implement it.

U.S. port fees on ships that carry majority of the US trade would be $1 million -plus per port visit fee.

The winners would be Japan , Korea , the Philippines , other countries where commercial shipbuilding is on a larger scale today than the United States .

The losers, he added, will include U.s. consumers, as the port fees are passed on in the form of higher prices for imported goods.

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