US and China Impose New Port Fees Amid Rising Trade Tensions
The United States and China are imposing new port fees on each other's ships, further escalating trade tensions between the two countries.
According to Wendy Cutler, vice president of the Asia Society Policy Institute and former acting U.S. trade negotiator, "Can we find some way to kind of coexist with China as we still are strategic rivals?"
"We're in a pattern of escalation and now hopefully towards de-escalation,"
said Cutler, in reference to the upcoming meeting between President Donald Trump and Chinese President Xi Jinping.
- New port fees are being imposed on each other's ships.
- These fees add to the existing import costs for businesses, including duties.
- The move is part of escalating trade policies between the US and China.
Author's summary: US and China impose new port fees amid trade tensions.