USTR announces actions intended to reverse Chinese dominance in shipbuilding ...Middle East

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Actions designed to restore US shipbuilding while mitigating disruptionsVessel ownders and operators of China would be assessed port fees starting at $50 per net ton in 180 daysFees will increase by $30 per ton per year for three yearsForeign-built car carriers would start at $150 per vehicle in 180 daysFees on Chinese-linked vessels will be assessed per US voyage not per port call and will be imposed no more than 5 times per yearOrders of US built vessels will lead to suspended fees for up to 3 years

It's a monumental task to create a US shipbuilding industry basically from scratch. I tend to think that companies will just pay these fees or find ways around them rather than invest massively in ship building when these policies could be reversed in 4 years.

This article was written by Adam Button at www.forexlive.com.

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