US to reduce fees for ships carrying agricultural products

The Trump administration is reviewing its plans to impose higher port fees on Chinese-built ships, The Wall Street Journal reports.

Previously, the US authorities wanted to charge up to $1.5 million for each Chinese-built merchant ship calling at a US port. According to the Trump administration, such a move should stimulate the production of merchant ships in the US. Now, according to the publication, the US authorities want to link the fees to the capacity of the ships, which will reduce payments for smaller ships. In addition, the Trump administration wants to exempt ships that transport agricultural products from paying the fee.

According to analysts, the revision of the fees was influenced by shipping companies and trade associations, which began to warn the US authorities that such fees would lead to higher prices for goods for American consumers and harm American agricultural exports. In addition, taking into account the introduction of additional customs duties, the administration wants to somewhat reduce costs for both US importers and exporters in the current situation.

Earlier, Trump announced the introduction of duties on products from 185 countries and regions, setting the minimum rate at 10%. For individual countries, he approved individual barriers, including for China – at 34%. Later, the head of the White House delayed the introduction of duties for up to 90 days for most countries, except for China, for which the rate was set at 104%.

Tags: USA, freight rates