The expected impacts include:
Rising inflationary pressures in the US,
Higher shipping expenses
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.