00:00It's Benzinga bringing Wall Street to Main Street.
00:02US government has proposed imposing up to a $1.5 million import fees per call on shipping companies
00:07using Chinese-built vessels, according to the South China Morning Post.
00:11Industry leaders warn the fees would disrupt supply chains,
00:14drive up consumer prices, and fail to curb China's dominance in shipbuilding.
00:18The World Shipping Council estimated the charges could cost US consumers up to $30 billion annually.
00:24The USTR defends the plan as necessary for national security and shipbuilding revitalization,
00:30but critics argue it will harm American competitiveness
00:32and have far-reaching consequences for global trade.
Comments