FX.co ★ China, U.S. Impose Port Fees in Trade War Escalation

China and the United States are intensifying their trade conflict by introducing new port fees on ocean shipping companies as of Tuesday. These charges specifically target vessels involved in transporting goods, marking a new stage in the simmering trade tensions between the two nations. According to Reuters, China has started imposing fees on ships that are owned, operated, built, or registered in the U.S., while exempting those constructed in China. The U.S. is set to implement a similar policy on October 14. Analysts project that China’s shipping giant, COSCO, will be responsible for nearly 50% of the anticipated USD 3.2 billion in fees for container carriers by 2026. China's strategy is designed to parallel the U.S. timeline, applying fees to vessels associated with the United States.