US and 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 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,"
said Cutler, in hopes that the situation will improve before President Donald Trump meets with Chinese President Xi Jinping this month.
- New port fees are being! imposed by both countries.
- The fees add to the costs of imports for businesses.
- The move is part of escalating trade policies between the US and China.
Author's summary: US and China impose new port fees amid trade tensions.