Senators Urge Trump to Hold Firm on Shipbuilding Trade
A bipartisan group of senators has called on President Trump to avoid making concessions on maritime trade measures during his summit with Chinese President Xi Jinping this week. The lawmakers argue that port fees and domestic investment through the SHIPS Act are essential to counter China's dominance in the global shipbuilding industry.
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Four United States senators urged President Donald Trump to maintain $3.2 billion annually in fees for large Chinese-built vessels sailing to U.S. ports during upcoming trade negotiations. The fees target China's 50% share of the $150 billion global shipbuilding market, while American firms hold less than 1%. Last spring, the threat of these levies led to a 25% drop in Chinese shipyard orders.
