https://sputniknews.in/20250324/us-plans-billion-dollar-penalties-on-chinese-shipping-sparks-fears-of-trade-apocalypse-8896117.html
US Plans for Billion-Dollar Penalties on Chinese Shipping Spark Fears of 'Trade Apocalypse'
US Plans for Billion-Dollar Penalties on Chinese Shipping Spark Fears of 'Trade Apocalypse'
Sputnik India
Industry leaders and specialists have sounded alarms over proposed hefty fees aimed at Chinese cargo ships, warning that such moves could have catastrophic... 24.03.2025, Sputnik India
2025-03-24T11:55+0530
2025-03-24T11:55+0530
2025-03-24T11:58+0530
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The expected impacts include:The US Trade Representative (USTR) has suggested imposing steep charges on vessels built and operated by China docking at American ports, in an attempt to challenge China’s dominance in the global shipbuilding industry.This controversial topic will be debated at a two-day USTR hearing in Washington starting Monday, where trade groups will present arguments about how these proposals could cause even more damage to global trade than the tariffs imposed during Donald Trump's presidency.
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donald trump, china, us, trade, trade barriers, rising economies
donald trump, china, us, trade, trade barriers, rising economies
US Plans for Billion-Dollar Penalties on Chinese Shipping Spark Fears of 'Trade Apocalypse'
11:55 24.03.2025 (Updated: 11:58 24.03.2025) Industry leaders and specialists have sounded alarms over proposed hefty fees aimed at Chinese cargo ships, warning that such moves could have catastrophic effects on the global economy.
The expected impacts include:
Rising inflationary pressures in the US,
Making American exports less competitive globally,
Disrupting global supply chains.
The US Trade Representative (USTR) has suggested imposing steep charges on vessels built and operated by China docking at American ports, in an attempt to challenge China’s dominance in the global shipbuilding industry.
This controversial topic will be debated at a two-day USTR hearing in Washington starting Monday, where trade groups will present arguments about how these proposals could cause even more damage to global trade than the tariffs imposed during Donald Trump's presidency.
