Freight Fright: U.S.-China Port Fee Showdown Escalates Trade War

The U.S. and China have imposed new port fees on each other's shipping firms, targeting a wide range of goods. This move is part of the ongoing trade war between the two nations, affecting global maritime logistics. Analysts are concerned about potential cost increases and market disruptions.

The United States and China have escalated their trade tensions by imposing reciprocal port fees on each other's shipping firms. This move intensifies the trade war between the world's two largest economies, with far-reaching effects on global maritime logistics.

China announced it would levy these charges on U.S.-linked vessels, exempting Chinese-built ships, while the U.S., under the Trump administration, had earlier planned to impose similar fees on China-linked vessels to counter Chinese dominance in the industry.

Analysts foresee significant impacts on major players, including China-owned COSCO, potentially increasing costs and affecting consumer prices globally. Meanwhile, the political rivalry extends beyond trade, with threats of additional tariffs and export controls looming.

(With inputs from agencies.)