US, China Impose New Port Fees Amid Trade Tensions
The United States and China are imposing new port fees as trade tensions rise, according to the Chinese Ministry of Transport and Wendy Cutler, vice president of the Asia Society Policy Institute.
Can we find some way to kind of coexist with China as we still are strategic rivals? - Wendy Cutler
The fees are an additional import cost for businesses on top of duties, and come amid the threat of more tariff hikes. Cutler noted that the current situation is part of a pattern of escalation, but hopes it will lead to de-escalation.
President Donald Trump is set to meet with Chinese President Xi Jinping this month, and many investors are hoping they will lower the temperature. The port fees are part of escalating trade policies between the two countries.
- New port fees imposed by the US and China on each other's ships
- Additional import cost for businesses on top of duties
- Threat of more tariff hikes amid escalating trade tensions
Author's summary: US and China impose new port fees amid rising trade tensions.
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