China hits back on US port fees with retaliatory levies [Yahoo! Finance]
BGC Group, Inc. - Class A (BGC)
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Source: Yahoo! Finance
flagged vessels on Tuesday as a countermeasure to U.S. port fees on China-linked ships starting the same day, China's transport ministry said on Friday. Later in the day, U.S. President Donald Trump said he was raising tariffs on Chinese exports to the U.S. to 100% and imposing export controls on critical software in a reprisal to export limits by China on rare earth minerals. There are relatively few U.S.-built or U.S.-flagged vessels conducting international trade, but China will ensnare more ships by applying levies to companies with 25% or more of their shares or board seats held by U.S.-domiciled investment funds, analysts said. "This casts a wide net and could affect many public shipping companies with a listing on U.S. stock exchanges," said Erik Broekhuizen, a marine research and consulting manager at ship brokering firm Poten & Partners. "The potential impact is significant." On Tuesday, ships built in China - or operated or owned by Chinese entities - will also nee
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