The US actions reflect typical unilateralism and protectionism, seriously violate World Trade Organization (WTO) rules, undermine the principle of equality and mutual benefit in the China-US maritime transport agreement and inflict severe damage on China's relevant industries, a ministry spokesperson said responding to a media query.
China announced on October 10 that it will impose special port fees on ships that are US-flagged or -built, or that are owned, partly owned or operated by US entities or individuals.
The US measures will not only disrupt global supply chains and significantly increase international trade costs, but will also drive up US inflation, undermine the competitiveness and employment of US ports and jeopardise the security and resilience of its own supply chains, the spokesperson was cited as saying by a state-controlled media outlet.
There is also significant opposition from US industry circles, clearly showing that the US approach harms others without benefiting itself, the spokesperson added, urging the United States to correct its ‘wrongdoings’.
ALCHEMPro News Desk (DS)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
