Billion-dollar US levies on Chinese ships risk ‘trade apocalypse’
A proposal from the Office of the US Trade Representative aimed at curbing China’s dominance of the shipbuilding, logistics and maritime industry is sending shock waves around the world.
The Cosco Shipping yard in Qigong, China. The US wants to challenge China’s dominance in the maritime industry. Bloomberg
For a symbol of the chaos engulfing world trade since the Trump administration walked into the White House, look no further than a pile of 16,000 tonnes of steel pipes.
Stevedores in Germany should be preparing to load the first batch onto a container ship bound for a massive energy project in Louisiana. Instead, the cargo is sitting in a German warehouse after Washington proposed putting million-dollar levies on Chinese ships docking in the US.
