Trump's fees on Chinese ships will hurt US companies, maritime executives to tell hearing [Yahoo! Finance Canada]
Seaboard Corporation (SEB)
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Source: Yahoo! Finance Canada
U.S. shipbuilding industry is likely to backfire because it relies on proposed fees on China-linked vessels that will hurt domestic ship operators and ports, industry executives will tell the U.S. Trade Representative at hearings this week. In particular, they will say the plan would hurt U.S. ship operators by strictly limiting the vessels they would need to use to avoid the fees, and by concentrating ship traffic at America's biggest ports while leaving the smaller ones neglected. "Any proposal to support U.S. shipbuilding should also support existing U.S.-owned carriers (not harm them)," Edward Gonzalez, CEO of Florida-based Seaboard Marine wrote in comments ahead of his expected testimony on Monday. At issue is a proposed charge of up to $1.5 million for Chinese-built or Chinese-flagged vessels docking at U.S. ports. The Trump administration says that and other contemplated fees would curb China's growing commercial and military dominance on the high seas and promote domesti
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SEB
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- 10/28/25 - Form 10-Q
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