China’s Minister of Transport Liu Wei has called on shipping companies and port operators worldwide to promote free trade in a “concerted effort” to combat “protectionism” after the US administration slapped port fees on Chinese vessels.
The remarks came amid mounting worries about an escalation of US-China trade tensions that could disrupt international supply chains and wreak havoc on the global economy.
Speaking to about 400 government officials, industry executives, researchers and reporters from more than 50 countries, Liu defined the port fees – slapped on Chinese-built and Chinese-operated vessels – as a form of “unilateralism and protectionism”.
China’s retaliatory measures were “well founded and are necessarily enforced to safeguard the interest of our own shipping industry,” he added.
US President Donald Trump initiated port fees of US$50 per net ton on Chinese vessels early this month before Beijing announced its retaliatory move to charge 400 yuan (US$56) per net ton for US ships.
US-built ships account for only 0.1 per cent of global shipbuilding, while Chinese shipyards hold 53.3 per cent of the market worldwide, according to the US think tank Center for Strategic and International Studies.
