US and China Impose New Port Fees Amid Rising Trade Tensions
The United States and China are imposing new port fees on each other's ships as trade tensions continue to rise.
According to Wendy Cutler, vice president of the Asia Society Policy Institute and former acting deputy U.S. trade representative, "Can we find some way to kind of coexist with China as we still are strategic rivals?"
"We're in a pattern of escalation and now hopefully towards de-escalation,"
Cutler said, in hopes that the meeting between President Donald Trump and Chinese President Xi Jinping this month will help lower tensions. The new port fees add to the existing import costs for businesses, including duties.
- New port fees imposed by the US and China on each other's ships
- Part of escalating trade policies between the two countries
- Meeting between President Trump and President Xi Jinping expected to help ease tensions
Author's summary: US and China impose new port fees amid rising trade tensions.
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