"The fees would be applied on the same ship for a maximum of five voyages each year, and would rise every year until 2028, when it would hike to 1,120 yuan ($157) per net ton, the ministry said. They would take effect on Oct. 14, the same day when the United States is due to start imposing port fees on Chinese vessels."
"China has announced a string of trade measures and restrictions before an expected meeting between Trump and Xi on the sidelines of the Asia-Pacific Economic Cooperation forum in South Korea that begins at the end of October. On Thursday, Beijing unveiled new curbs on exports of rare earths and related technologies, as well as new restrictions on the export of some lithium battery and related production equipment."
"China's Ministry of Transport said on Friday in a statement that its special fees on American vessels are "countermeasures" in response to "wrongful" U.S. practices, referring to the planned U.S. port fees on Chinese vessels. The ministry also slammed the United States' port fees as "discriminatory" that would "severely damage the legitimate interests of China's shipping industry" and "seriously undermine" international economic and trade order."
China will impose per-net-ton port fees on vessels owned or operated by American companies or individuals, and on ships built in the U.S. or flying the American flag. The fee starts at 400 yuan ($56) per net ton per voyage, applies to a maximum of five voyages per ship each year, and will rise annually until 2028 when it reaches 1,120 yuan ($157) per net ton. The fees take effect on Oct. 14, coinciding with U.S. plans to charge Chinese vessels. The Ministry of Transport called the measures "countermeasures" to wrongful U.S. practices and labeled U.S. fees discriminatory. Beijing has also unveiled curbs on rare-earth and some lithium battery exports as part of broader retaliatory steps.
Read at Fortune
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