ICYMI: Big fees on China ships has US exporters struggling to send goods abroad

Reuters are reporting on bottlenecks at ports in the US.

Trump’s proposal to revive U.S. shipbuilding by imposing steep fees on China-linked vessels entering American ports is leading to a buildup of U.S. coal inventories and adding uncertainty to the already struggling agriculture sector. Exporters are facing difficulties securing ships to transport goods overseas.

Trump’s plan, outlined in a draft executive order, would be funded through a U.S. Trade Representative proposal that seeks to impose fines of up to $1.5 million on ships built in China or vessels operated by fleets that include Chinese-made ships.

According to major U.S. exporters and transportation providers, the prospect of these port fees is already limiting access to vessels critical for shipping agricultural products, energy resources, mining materials, construction supplies, and manufactured goods to global markets. Their concerns have been raised in interviews with Reuters, formal letters to U.S. officials, and statements ahead of USTR hearings scheduled for next week.

Here is the Reuters link for more detail.

• Proposed US port fees on China-built ships begin choking coal, agriculture exports

Something to look out for in the data ahead.

This article was written by Eamonn Sheridan at www.forexlive.com.