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 rise.
According to Wendy Cutler, vice president of the Asia Society Policy Institute and former acting 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, noting that the fees are another import cost for businesses on top of duties. The port fees are part of escalating trade policies between the two countries, amid a threat of more tariff hikes.
President Donald Trump is set to meet with Chinese President Xi Jinping this month, and many investors are hoping for a decrease in tensions. The new port fees are imposed on each other's ships, according to Cutler and the Chinese Ministry of Transport.
Autor's resume: Trade tensions rise between US and China.
- New port fees imposed by US and China
- Trade tensions continue to rise
- President Trump to meet with Xi Jinping this month