Chaos in the global shipping industry

The Trump administration’s proposed massive port fees on Chinese-built and –operated cargo vessels set in motion the bigger threat of a trade war besides potentially disrupting global supply chains and creating uncertainty in the global maritime industry. The proposed US action to curb China’s dominance in shipping and revive its own shipbuilding industry will expand the punitive tariffs against China and other countries by President Donald Trump beyond just goods trade. The US media views Washington’s pushback against China’s dominance in the shipbuilding industry as part of the president’s widening global economic and trade war, with the world’s largest ocean freight companies confronting the threat of fines of up to $1.5 million for Chinese-made container ships that call on the US ports.