US, 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 escalate.
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 move comes ahead of a meeting between President Donald Trump and Chinese President Xi Jinping this month.
- New port fees imposed on each other's ships
- Part of escalating trade policies between the two countries
- Additional import cost for businesses on top of duties
Author's summary: Trade tensions between US and China escalate with new port fees.