Port Fee Face-off: China and U.S. Escalate Trade Tensions

In a tit-for-tat move, China is set to impose port fees on U.S.-owned, operated, built, or flagged vessels starting Tuesday. This comes as a direct countermeasure to the U.S. implementing similar fees on China-linked ships. China's transport ministry announced the decision on Friday.

U.S. President Donald Trump, reacting to China's actions, declared a significant increase in tariffs on Chinese exports to the U.S. and imposed export controls on crucial software. China's new levies are expected to affect not just ships but also public shipping companies whose shares or board seats have a significant U.S. interest.

Amidst heightened tensions, shipping industry experts warn of considerable impacts on global trade. These developments mark another chapter in the ongoing U.S.-China trade conflict, which has seen both sides imposing tariffs and retaliatory measures against each other.

(With inputs from agencies.)