Greek joy at US-China port fee freeze deal

The US and China person agreed to suspend the imposition of larboard fees connected ships bound for either country, astatine slightest for the clip being, de-escalating a quality that had go a constituent of friction successful their wider trade war, causing important disruption to planetary commercialized shipping.

The one-year frost follows US President Donald Trump’s gathering with his Chinese counterpart Xi Jinping successful South Korea past Thursday. 

This is an contented that straight concerns Greek shipping interests, which power much than 25% of the world’s merchant vessel tonnage, with a ample fig of ships built successful China and subject to US larboard fees, and an arsenic important fig having either US number shareholders (over 25%) oregon US citizens arsenic committee members and subject to Chinese fees.

The larboard fees could severely disrupt planetary shipping, rise transportation costs and slow the travel of goods, including oil. During the suspension period, Washington intends to negociate with Beijing regarding its maritime research, while besides pursuing further shipbuilding practice opportunities with South Korea and Japan.