U.S. Trade Adjustments Shield Domestic Shipping from Hefty Port Fees

News Snapshot:

The U.S. Trade Representative's office announced on Thursday an exemption for U.S.-owned and registered ships from proposed port fees targeting China-associated vessels, as part of President Trump's strategy to boost American shipbuilding and counteract China's control of international waterways, according to two industry insiders speaking with Reuters. The initial proposal by the USTR included port fees up to $1.5 million per call for China-built ships, causing concern within the global shipping sector. This policy could lead to increased export costs and billions in import expenses for U.S. consumers. The fees would apply per trip, with implementation set for six months...