US and China Impose New Port Fees Amid Rising Trade Tensions
The United States and China are imposing new port fees as trade tensions continue to escalate.
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 reference to the upcoming meeting between President Donald Trump and Chinese President Xi Jinping. The new port fees will add to the costs of imports for businesses, on top of existing duties.
- New port fees imposed by the US and China on each other's ships
- Fees add to import costs for businesses, in addition to duties
- Escalating trade policies between the two countries
Author's summary: Trade tensions rise as US and China impose new port fees.
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