Analysts have warned the tit-for-tat trade fees risk 'distorting global freight flows' for goods including petrol, toys.
Analysts have warned the tit-for-tat trade fees risk ‘distorting global freight flows’ for goods ranging from petrol to toys.
By Reuters
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The United States and China have started charging additional port fees on ocean shipping firms that move everything from holiday toys to crude oil, making the high seas a key front in the trade war between the world’s two largest economies.
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China slams US 'double standards' after Trump announces 100% tariff hike
It's the latest tit-for-tat tariff spat between the two superpowers following a period of calmed tensions.
US tariffs also came into effect on imported timber, kitchen cabinets and upholstered furniture.
The move comes a day after China ramped up restrictions on rare earths exports amid ongoing tensions with the U.S.
HONG KONG: China has hit US-owned vessels docking in the country with tit-for-tat port fees, in response to the American…
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The shipping industry is undergoing ‘unprecedented’ changes as the US prepares to hit Chinese-linked vessels with steep levies.
