- US Policy Aims to Revive Fading Shipbuilding Industry.
- Trade Unions Blast Trump’s Decision, Warn of Setback for US Builders.
- Analysts Say Move Needed to Curb Rising Shipping Costs.
Great news for the shipping industry! Ro-ro vessels are now included in the one-year suspension of port fees for US-related ships docking at Chinese ports, as well as for Chinese-related vessels arriving at US ports, reports The Load Star.
Policy Aimed at Reviving US Shipbuilding
This initiative, rolled out by Washington, aims to breathe new life into the US shipbuilding sector, which has seen a significant decline in recent years. However, the policy was only in place for less than two weeks before President Trump and Chinese President Xi Jinping came to a temporary trade truce.
Unions Criticise Trump’s Decision
According to Splash, “a host of American trade unions have blasted Trump’s decision to agree to a one-year suspension”, warning that shipbuilding in the US was “again being pushed aside”. Despite these concerns, many observers believe the move was necessary to stabilise shipping costs, which might otherwise have surged as carriers passed additional expenses on to consumers.
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Source: The Load Star
