China-USA Trading War: To the harbor, China's Another Big Battle for America, banned five units of Hanwha Ocean

The consequences of the continued trade war between America and China are now clearly visible. Both countries now openly take aggressive steps against each other. China first announced the port charges in response to additional rates imposed by US President Donald Trump, and has now set sanctions on five US affiliate subsidiaries of South Korean company Hanwha Ocean Corporation. The move comes from Washington’s investigation into China’s maritime, logistics and shipbuilding sector. These restrictions announced by China’s Ministry of Trade will come into effect from today. According to the Global Times, the Chinese Ministry of Trade said that US actions are a major violation of international law and the fundamental principles of global relations, which seriously affects the legal rights and interests of Chinese businesses. The ministry further said that these US entities of Hanwha Ocean work together and support the US government’s investigation, which threatens China’s sovereignty, security and development interests. The sanctions come at a time when President Trump repeatedly emphasized the collaboration between shipbuilding between Seoul and Washington. According to a report from Yonhap News, Hanwha Ocean would benefit most from strengthening shipbuilding ties between the two countries. South Korean media quoted Seoul-based operating resources that Beijing’s move was a retaliation against Washington and a strict warning to South Korea, China’s most important shipbuilding medier. According to the Chinese state media, the Ministry of Trade called these five subsidiaries as Hanwha Shipping LLC, Hanwha Philly Shipyard Inc., Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC and HS USA Holdings Corp. China’s transport minister is now investigating the implications of the US Section 301, including how it affects the security and development interests of its shipping. According to the state news agency Xinhua, sector and related industrial and supply chains. Meanwhile, China announced today that special port fees will be imposed on US ships calling at its ports. The Global Times reports that these special charges are imposed to ensure fair competition in international shipping, as well as to protect the legitimate interests of the Chinese shipping industry and businesses. According to the Ministry of Transport, these levies apply to ships in which US companies, organizations or individuals directly or indirectly have a 25% or more interest, as well as all US flagged and American building. The ministry statement set out a plan for a phase increase in special duties for these US ships at Chinese ports, from Tuesday with 400 yuan (about $ 56) per ton. This fee is increased each year from April 17 for the next three years. The Ministry of Transport has made it clear that the duty, which was imposed on October 10, in response to the US’s decision to impose additional duties on Chinese vessels at its ports from October 14. Share these story marks