Tension between America and China has increased once again. China has imposed additional port fees on American ships. The new rates will be applicable from October 14. China’s transport ministry said on Friday that from October 14, ships owned and operated by US companies and individuals, or sailing under the US flag, will have to pay additional port fees on every voyage. This step has been taken in response to the new port charges being imposed by the US. Additionally, starting October 14, ships built in China, operated by or owned by Chinese entities will have to pay tariffs in the US. The fee could exceed $1 million for ships carrying more than 10,000 containers and increase annually until 2028, according to analysts’ estimates.
Clash of superpowers continues
The Chinese Transport Ministry said that from October 14, the fee for US ships calling at Chinese ports will be 400 yuan ($56.13) per ton. From April 17, 2028, ships calling at Chinese ports will have to pay this fee of 1,120 yuan ($157.16) per tonne.
China may suffer loss
Over the past two decades, China has established itself as the world’s number one shipbuilding leader. Analysts say these Chinese tariffs will have little impact on American ships, while the tariffs imposed by the US may be more harsh on Chinese ships. Last year, Chinese shipyards built more than 1,000 commercial ships, compared to less than 10 in the US.
Tensions between China and the US have increased since September, and the confrontation between the two superpowers continues. A 90-day trade tariff moratorium signed in August is set to expire in November. The leaders of the two countries are expected to meet at the Asia-Pacific Economic Cooperation (APEC) summit in late October.