Typical ‘protectionism’: China slams US port-fee proposal, warns of retaliation
China’s Ministry of Commerce has slammed a port-fee proposal by the US and its plans to impose tariffs on copper, warning Washington “not to make repeated mistakes” and vowing to take necessary countermeasures.
“If the US pushes ahead with port fees, it would drive up global shipping costs and disrupt the stability of global supply chains,” ministry spokesman He Yadong said at a press conference on Thursday.
“It would also increase inflationary pressure in the US, weaken the global competitiveness of American goods … and ultimately backfire on its own economy and job market.”
Under the USTR’s proposed plan, shipping companies would face steep port fees based on the percentage of Chinese-built vessels in their fleets, with a theoretical maximum of US$1.5 million per port call in the US.
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Donald Trump slaps 25% tariffs on steel and aluminium imports with ‘no exceptions’
Donald Trump slaps 25% tariffs on steel and aluminium imports with ‘no exceptions’
He’s comments came in response to the latest developments in heightened trade tensions between the two economic powers, including the port-fee plan and the ordered probe into potential new tariffs on copper imports.
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