No Result
View All Result
  • Login
Tuesday, May 5, 2026
FeeOnlyNews.com
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
No Result
View All Result
FeeOnlyNews.com
No Result
View All Result
Home Business

China hits back at US ships with additional port fees starting Tuesday

by FeeOnlyNews.com
7 months ago
in Business
Reading Time: 3 mins read
A A
0
China hits back at US ships with additional port fees starting Tuesday
Share on FacebookShare on TwitterShare on LInkedIn


Vessels owned or operated by U.S. firms and individuals, or those built in the United States or that fly the U.S. flag, will be charged additional port fees per voyage starting on Tuesday, China’s transport ministry said on Friday.

The port fees are a countermeasure against upcoming U.S. port fees on Chinese ships, the ministry said.

The move comes as U.S. President Donald Trump said on Friday there is no reason to meet with China’s President Xi Jinping in two weeks in South Korea as planned, adding on social media that the U.S. is calculating a massive increase in tariffs on imports from China. Trump said China has been sending letters to countries saying it planned to impose export controls on every element of production related to rare earths.

Also starting on October 14, ships built in China – or operated or owned by Chinese entities – will need to pay a fee at their first port of call in the United States. Fees could top $1 million for a ship carrying more than 10,000 containers, and could rise annually through 2028, according to analyst estimates. Vessels owned or operated by a Chinese entity will face a flat fee of $80 per net tonnage per voyage to the U.S.

Live Events

Also read: Trump threatens China with ‘massive hike in tariffs’ over Beijing’s recent export policy, rare earth controls

CHINA CALLS U.S. FEES DISCRIMINATORY

The U.S. fees on China-linked vessels, following a probe by the U.S. Trade Representative, are part of a broader U.S. effort to revive domestic shipbuilding and blunt China’s naval and commercial shipping power. “It is clearly discriminatory and severely damages the legitimate interests of China’s shipping industry, seriously disrupts the stability of the global supply chain, and seriously undermines the international economic and trade order,” the Chinese ministry said. In a separate statement released later on Friday, Beijing’s commerce ministry said the Chinese countermeasures were in “justified” self-defence aimed at safeguarding fairness in the global shipping and shipbuilding markets.

Over the past two decades, China has catapulted itself to the No. 1 position in the shipbuilding world, with its biggest shipyards handling both commercial and military projects.

The Chinese fees on U.S. vessels could hurt the U.S. less than the U.S. fees might harm the legion of Chinese ships.

The fees announced by China, like those put in place by the U.S., “add further complexity and cost to the global network that keeps goods moving and economies connected, and risk harming their exporters, producers, and consumers at a time when global trade is already under pressure,” said Joe Kramek, president and CEO of the World Shipping Association.

Last year, Chinese shipyards built more than 1,000 commercial vessels, while the U.S. constructed fewer than 10, according to military and industry analysts.

RATES RISE OVER THREE YEARS

For U.S. vessels berthing at Chinese ports from October 14, the rate will be 400 yuan ($56.13) per net metric ton, the Chinese transport ministry said.

That will increase to 640 yuan ($89.81) from April 17, 2026, and to 880 yuan ($123.52) from April 17, 2027.

For vessels calling at Chinese ports from April 17, 2028, the charge will be 1,120 yuan ($157.16) per net metric ton.

Tensions between China and the United States have deepened since September, with the two superpowers struggling to move beyond their trade tariff truce – a 90-day pause from August 11 that ends around November 9.

Retaliatory tariffs in the U.S.-China trade war this year have sharply curtailed Chinese imports of U.S. agriculture and energy products.

“There is not much impact likely on agriculture trade, but this step goes to show that China is still irritated with U.S. and they are not going to allow U.S. agricultural imports anytime soon,” said one oilseed trader at an international company, which sells soybeans to China.

“You don’t take such steps if you’re trying to resolve matters. Chinese crushers might have to do without U.S. beans this year.”

($1 = 7.1241 Chinese yuan renminbi)

Add ET Logo as a Reliable and Trusted News Source



Source link

Tags: additionalChinaFeesHitsportshipsstartingTuesday
ShareTweetShare
Previous Post

Bank earnings preview: These major banks are set to report Q3 2025 results next week

Next Post

The Dollar’s Decline Could Be Bitcoin’s Next Big Breakout

Related Posts

Supermicro CEO: ‘No one’ beyond indicted employees were part of alleged .5 billion chip smuggling

Supermicro CEO: ‘No one’ beyond indicted employees were part of alleged $2.5 billion chip smuggling

by FeeOnlyNews.com
May 5, 2026
0

Super Micro Computer CEO Charles Liang spoke out during the company’s fiscal third quarter earnings call to deliver a message....

Global adoption of U.S. stablecoins comes with risk says Barry Silbert

Global adoption of U.S. stablecoins comes with risk says Barry Silbert

by FeeOnlyNews.com
May 5, 2026
0

Stablecoins, a form of cryptocurrency pegged to a real world asset, are becoming part of the global financial system, with...

Americans are giving less. July 4th can be a day to change that

Americans are giving less. July 4th can be a day to change that

by FeeOnlyNews.com
May 5, 2026
0

Charitable giving, once a defining feature of American life, is quietly slipping out of fashion. In recent years, the share...

ideaForge Technology bulk deal: BNP Paribas buys Rs 39 crore worth shares in this multibagger

ideaForge Technology bulk deal: BNP Paribas buys Rs 39 crore worth shares in this multibagger

by FeeOnlyNews.com
May 5, 2026
0

Shares of ideaForge Technology Limited witnessed significant bulk deal activity on Tuesday, with multiple institutional investors picking up stakes in...

Crypto Whale Sues Coinbase Alleging Exchange Refuses to Return Stolen Funds

Crypto Whale Sues Coinbase Alleging Exchange Refuses to Return Stolen Funds

by FeeOnlyNews.com
May 5, 2026
0

An anonymous crypto whale based in Puerto Rico sued Coinbase this week, accusing the crypto exchange of failing to release...

Google DeepMind workers in the U.K. vote to unionize over military AI contracts

Google DeepMind workers in the U.K. vote to unionize over military AI contracts

by FeeOnlyNews.com
May 5, 2026
0

Google’s UK-based DeepMind workers have launched a bid to form what would be the world’s first union at a frontier...

Next Post
The Dollar’s Decline Could Be Bitcoin’s Next Big Breakout

The Dollar’s Decline Could Be Bitcoin’s Next Big Breakout

A Trifecta To Reimagine Healthcare CX

A Trifecta To Reimagine Healthcare CX

  • Trending
  • Comments
  • Latest
The 27 Largest US Funding Rounds of March 2024 – AlleyWatch

The 27 Largest US Funding Rounds of March 2024 – AlleyWatch

April 17, 2026
Wells Fargo Transfer Partners: What to Know

Wells Fargo Transfer Partners: What to Know

April 16, 2026
Week 14: A Peek Into This Past Week + What I’m Reading, Listening to, and Watching!

Week 14: A Peek Into This Past Week + What I’m Reading, Listening to, and Watching!

April 6, 2026
The 16 Largest Global Startup Funding Rounds of March 2026 – AlleyWatch

The 16 Largest Global Startup Funding Rounds of March 2026 – AlleyWatch

April 21, 2026
The Justice Department Indicts the Ministry of Love

The Justice Department Indicts the Ministry of Love

May 2, 2026
LPL’s Mariner Advisor Network deal fuels already hot year for RIA M&A

LPL’s Mariner Advisor Network deal fuels already hot year for RIA M&A

April 16, 2026
Supermicro CEO: ‘No one’ beyond indicted employees were part of alleged .5 billion chip smuggling

Supermicro CEO: ‘No one’ beyond indicted employees were part of alleged $2.5 billion chip smuggling

0
XRP Reserves On Binance Are Crashing Rapidly, But Is This A Good Thing For Price?

XRP Reserves On Binance Are Crashing Rapidly, But Is This A Good Thing For Price?

0
The “John Doe” Financial Block: Why Some POA Forms Are Being Rejected Under New Bank AI Security Protocols

The “John Doe” Financial Block: Why Some POA Forms Are Being Rejected Under New Bank AI Security Protocols

0
When the Federal Government Subsidized Robberies

When the Federal Government Subsidized Robberies

0
Global adoption of U.S. stablecoins comes with risk says Barry Silbert

Global adoption of U.S. stablecoins comes with risk says Barry Silbert

0
Strategy breaks from ‘never sell’ bitcoin approach

Strategy breaks from ‘never sell’ bitcoin approach

0
Supermicro CEO: ‘No one’ beyond indicted employees were part of alleged .5 billion chip smuggling

Supermicro CEO: ‘No one’ beyond indicted employees were part of alleged $2.5 billion chip smuggling

May 5, 2026
XRP Reserves On Binance Are Crashing Rapidly, But Is This A Good Thing For Price?

XRP Reserves On Binance Are Crashing Rapidly, But Is This A Good Thing For Price?

May 5, 2026
Strategy breaks from ‘never sell’ bitcoin approach

Strategy breaks from ‘never sell’ bitcoin approach

May 5, 2026
The “John Doe” Financial Block: Why Some POA Forms Are Being Rejected Under New Bank AI Security Protocols

The “John Doe” Financial Block: Why Some POA Forms Are Being Rejected Under New Bank AI Security Protocols

May 5, 2026
Global adoption of U.S. stablecoins comes with risk says Barry Silbert

Global adoption of U.S. stablecoins comes with risk says Barry Silbert

May 5, 2026
Amid resurging economic optimism, advisors favor domestic stocks

Amid resurging economic optimism, advisors favor domestic stocks

May 5, 2026
FeeOnlyNews.com

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Economy
  • Financial Planning
  • Investing
  • Market Analysis
  • Markets
  • Money
  • Personal Finance
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Supermicro CEO: ‘No one’ beyond indicted employees were part of alleged $2.5 billion chip smuggling
  • XRP Reserves On Binance Are Crashing Rapidly, But Is This A Good Thing For Price?
  • Strategy breaks from ‘never sell’ bitcoin approach
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclaimers
  • About Us
  • Contact Us

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.