AsianFin -- The U.S. Trade Representative's office (USTR) has proposed a fee of up to $1.5 million for Chinese-built vessels entering U.S. ports as part of its investigation into China's growing influence in global shipbuilding, maritime, and logistics industries.
In a report released on January 16, USTR noted that China’s share of global shipbuilding tonnage surged from 5% in 1999 to over 50% in 2023, driven by significant state subsidies and favorable treatment of state-owned enterprises. This growth has led to a decline in competition from private-sector international players. The agency also highlighted that U.S. shipyards, which built 70 ships annually in 1975, now only produce five each year.
In a Federal Register notice published on Friday, USTR outlined its proposed fees and other shipping restrictions. The agency has scheduled a public hearing on the matter for March 24.
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