00:00The US and China have started imposing new port fees on each other's ships,
00:05marking a fresh escalation in trade tensions between the world's two largest economies.
00:10Beijing says it has begun collecting special charges on US-owned,
00:14operated, built-off-like vessels, while Chinese-built ships will be exempt.
00:22China says its new port fees announced last week are meant to protect its shipping industry
00:27from what it calls discriminatory US measures.
00:30The move comes in retaliation for American port fees targeting Chinese ships,
00:35which Washington says supports US shipping companies.
00:39China also imposed sanctions on five US-linked subsidiaries of South Korean shipbuilder Huanhua Ocean,
00:46accusing them of aiding a US probe into Chinese trade practices.
00:50Also on Tuesday, new US tariffs took effect on imported timber,
00:54kitchen cabinets and upholstered furniture.
00:57Much of it from China.
00:59Despite rising tensions, US Treasury Secretary Scott Besson said President Donald Trump
01:04and China's Xi Jinping are still expected to meet in South Korea later this month
01:08to try to ease trade disputes.
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