China and the U.S. are escalating their trade war by imposing new port fees on ocean shipping firms starting Tuesday, targeting vessels that transport goods and making maritime trade a new front in their ongoing trade war. Reuters said China had begun collecting charges on U.S.-owned, operated, built, or flagged ships, while exempting Chinese-built vessels. The U.S. will follow suit on October 14. Analysts estimate China’s COSCO will bear nearly half of the USD 3.2 billion in expected fees for container carriers by 2026. China’s countermeasure mirrors the U.S. timeline, applying fees to U.S.-linked vessels.
