Tensions between the world’s two largest economies escalated at the weekend as China slammed a “self-damaging” proposal by the Office of the US Trade Representative (USTR) to impose steep port fees on Chinese-built vessels and related operators, a move that industry insiders warn could disrupt global shipping and hurt US trade instead.
Lars Jensen, CEO of maritime consultancy Vespucci Maritime, said he was “somewhat speechless” at the proposal.
“If the intention is to drastically increase costs for US importers and make US exports uncompetitive, this proposal is likely to do the job,” he said in an online post.
The USTR’s most powerful measure targets a broad group of operators – anyone could face a new US port fee determined by the percentage of Chinese-built vessels in its fleet, up to US$1.5 million per US port call.
The proposal also targets China-based vessel operators, such as Cosco, which could be charged up to US$1 million per US port call.
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