US and China Impose New Port Fees Amid Trade Tensions
The United States and China are imposing new port fees as trade tensions rise, according to 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?
The fees are an additional import cost for businesses on top of duties, and come amid the threat of more tariff hikes. Cutler notes that "we're in a pattern of escalation and now hopefully towards de-escalation" ahead of President Trump's meeting with Xi Jinping.
- New port fees imposed on each other's ships
- Additional import cost for businesses on top of duties
- Escalating trade policies between the US and China
Author's summary: US and China impose new port fees amid rising trade tensions.