China sanctiones US -related Korean shipbuilding firms when port fees begin

On the same day, the US began to charge China -owned and built ships in an additional dock in American ports, and China opened a probe into a 301 chapter study, which prompted taxes and sanctioned several Korean shipping giant segments with close American ties.

According to the Chinese Ministry of Transport, various government departments conduct a joint study on how the US probe affected the supply superpowering, shipbuilding and industrial supply chains.

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“The relevant measures will be introduced on time, based on the results of the investigation,” says the Ministry of Transport.

The trade voltage between the US and China was the predominant theme of Trump’s administration, as since April. The rates are Tits-Tat. More recently, Spat has spilled export control through rare ground minerals.

However, the ongoing party trade negotiations were not the only one forward and forth. The days before the US levasted port taxes came into force, China avenged for its movement, knocking down US ships with similar taxes while leaving the door to open access boundaries in ports.

Tuesday’s probe extension, China has authorized five US subsidiaries to Hanwha Ocean, a South Korean shipbuilding company, officially banned companies to cope with China’s interests.

Sanctions for subsidiaries are Hanwha Shipping LLC, Hanwha Philly Shipyard Inc., Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC and HS USA Holdings Corp, the China Ministry of Commerce report said.

China considers South Korea’s intermediate server in a trade conflict with the US, seeing the latter’s main US shipbuilding and military partner.

South Korea recently promised $ 150 billion to help revive the US dusting ship construction industry and fill its gap with China. The additional seeds were already planted last year, when Hanwha purchased a Philly shipyard for $ 5 billion to expand the annual production of shipyard from less than two ships to 20.

The Hanwha Ocean also secured contracts with the US Navy in 2024 to perform the US Navy maintenance, repair and overhaul.

Certainly, the competition for Chinese ships with South Korea plays an important role in sanctions. June Chinese ships make up 34.8 percent. The World Navy, just before South Korea, 30.9 %, according to Clarksons. The US accounts for only 0.4 percent.

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