US, China Impose New Port Fees Amid Rising Trade Tensions
The United States and China are imposing new port fees on each other's ships as trade tensions escalate.
According to Wendy Cutler, vice president of the Asia Society Policy Institute and former acting deputy U.S. trade representative, "Can we find some way to kind of coexist with China as we still are strategic rivals?"
"We're in a pattern of escalation and now hopefully towards de-escalation,"
Cutler said, in hopes that this will pave the way for President Trump to meet with Xi Jinping in Korea. The fees add to import costs for businesses on top of duties.
- New port fees imposed by the US and China
- Trade tensions rise amid threat of more tariff hikes
- President Trump to meet with Xi Jinping this month
Author's summary: Trade tensions rise as US and China impose port fees.