The Trump administration is forging ahead with plans to charge steep fees on Chinese-built ships for stopping at US ports in an effort to revive its shipbuilding industry, but scaled back the penalties after warnings about the impact on consumers. The Office of the US Trade Representative (USTR) significantly watered down original plans from February, under which vessels built in China would be charged $3.5m (£2.6m) each time they docked at a US port. The US and China are locked in a trade war. Those proposals prompted a backlash from…
Tag: Shipping industry
The Guardian view on supply chains: not only just in time, but just in case | Editorial
In 2012, shortly before becoming China’s top leader, Xi Jinping visited the Port of Los Angeles to discuss boosting trade. What then looked like a locus of cooperation has now become another site for suspicion as Sino-American relations remain tense. Last month, the Biden administration announced $20bn of funding for port infrastructure, much of it to replace cargo cranes that have almost all been made by a state-owned Chinese firm. The US is concerned because the sophisticated pieces of equipment manage information about containers and their contents, their origins and…
EU proposes sanctions on Chinese firms aiding Russian war effort
The EU is proposing to sanction companies in mainland China for the first time as part of its latest measures aimed at shutting down loopholes that allow Russia to route military technology via third countries to its weapons factories. Three companies in mainland China, as well as four in Hong Kong and one in India, are on a 91-page document of companies and individuals who EU member states want to add to a growing sanctions list before the second anniversary of Russia’s invasion of Ukraine. As the EU, the UK…
News live: Marles will ‘make right decision in Australia’s interest’ over deploying navy vessels to Red Sea, Farrell says
From 5h ago Sarah Basford Canales Marles will ‘make right decision in Australia’s interest’ over deploying navy vessels to Red Sea Earlier this morning, trade minister Don Farrell left open the possibility Australia could deploy navy vessels to the Red Sea amid ongoing attacks against commercial shipping from Iran-backed militia. This week the US asked Australia to send a warship to the region as part of its duties as a member of the international naval security taskforce, the combined maritime forces. It comes as the Yemen-based and Iran-backed Houthis warned…