Summary
Trade tensions between the US and China are rising as China starts new fees on US ships entering its ports. This action follows the US plan to begin charging fees on Chinese ships. Both countries are engaging in these measures as they continue negotiations to reduce trade tensions.
Key Facts
- China started charging fees on US-owned, operated, built, or flagged ships entering Chinese ports.
- The new Chinese fees are a response to US plans to charge fees on Chinese ships starting October 14.
- President Trump has threatened an additional 100% tariff on Chinese goods.
- New US tariffs on certain products like timber and furniture, mainly from China, took effect.
- US Treasury Secretary Scott Bessent mentioned that President Trump and President Xi are expected to meet in South Korea to discuss these issues.
- China's government says the US duties on its ships are against a previous maritime agreement.
- Both countries had earlier agreed to drop high tariffs, but the US kept a 30% tariff on Chinese goods while Chinese tariffs stayed at 10%.
