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USTR Proposes Max. US$1.5M Fee on All CN-Made Ships Entering US Ports
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The US Trade Representative's (USTR) office has proposed a plan to impose a fee of up to US$1.5 million on all Chinese-made ships entering US ports. The proposal outlined the suggested fees and other restrictions on ships, and a public hearing is scheduled for March 24. The USTR said that China's share in the global shipbuilding industry rose from 5% in 1999 to over 50% in 2023, primarily due to massive national subsidies and preferential treatment for state-owned enterprises that squeezed out international private competitors. The number of ships built per year by the US shipbuilding industry has decreased from 70 in 1975 to just 5 today. AAStocks Financial News |
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