Beijing Mirrors U.S. Port Fees In Retaliation, Raising Costs For Shippers And Consumers - video Dailymotion

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3 months ago

China will charge U.S. ships docking at its ports starting Oct. 14, mirroring U.S. fee hikes through 2028. Analysts warn the move will raise U.S. consumer costs and shipper expenses, highlighting China’s 53% dominance in global shipbuilding.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02China announced Friday that it will start charging U.S. ships docking at Chinese ports

00:06beginning October 14th, according to CNBC. Chinese Ministry of Transport said the move

00:10responds to U.S. measures that seriously violate international trade norms and damage bilateral

00:15maritime ties. Beijing will impose $56 per net ton fee, matching the U.S. schedule for rate

00:21increases through April 2028. Analysts warned that the new fees will raise U.S. consumer costs

00:26and cut shipper profits in the short term. A long term, they may boost demand for non-Chinese

00:31ships, but not U.S.-made ones. China controls 53% of global shipbuilding compared with just

00:360.1% for the U.S. For all things money, visit Benzinga.com.

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