Trump administration targets China with shipbuilding fees
The Trump administration has announced the implementation of fees on ships built in China. This decision stems from an investigation revealing that Chinese trade practices restrict American commerce. The fees aim to reduce China's dominance in the shipbuilding sector.
The Trump administration announced the implementation of fees on ships built in China. This decision follows an investigation conducted by the U.S. trade representative, which found that Chinese trade practices are detrimental to American businesses. According to CNBC, the fees aim to curtail China's influence in the shipbuilding industry and protect the American supply chain.
The fees will be imposed once per voyage, rather than per port as initially proposed. This adjustment came after public comments were submitted during two days of hearings in March, where over 300 trade groups voiced their concerns.
Ship owners may apply for an exemption from the fees if they provide proof of an order for a ship built in the USA.
Only a few exceptions
The fees do not apply to transportation on the Great Lakes, the Caribbean, and to and from U.S. territories. Also excluded are bulk exports, such as coal or grain, and empty ships arriving at ports.
The implementation of these fees is intended to bolster the American shipbuilding industry and limit Chinese dominance on the world's oceans.
