BEIJING (dpa-AFX) - The U.S. Trade Representative has indicated that it will take retaliatory measures over China's targeting of the maritime, logistics, and shipbuilding sectors for dominance.
The U.S. Trade Representative has issued findings in the Section 301 investigation of China's practices, and concluded that China's targeted dominance in these sectors is unreasonable and burdens or restricts U.S. commerce, and is therefore 'actionable'.
'Today, the U.S. ranks 19th in the world in commercial shipbuilding, and we build less than 5 ships each year, while the PRC is building more than 1,700 ships. In 1975, the United States ranked number one, and we were building more than 70 ships a year,' U.S. Trade Representative Katherine Tai said. 'Beijing's targeted dominance of these sectors undermines fair, market-oriented competition, increases economic security risks, and is the greatest barrier to revitalization of U.S. industries, as well as the communities that rely on them. These findings under Section 301 set the stage for urgent action to invest in America and strengthen our supply chains.'
USTR's investigation found that China's targeting for dominance is unreasonable because it displaces foreign firms, deprives market-oriented businesses and their workers of commercial opportunities, and lessens competition and creates dependencies on China, increasing risk and reducing supply chain resilience.
The USTR says that China's targeting for dominance is also unreasonable because of the government's extraordinary control over its economic actors and these sectors.
U.S. international trade is 'carried out on vessels made in China, financed by state-owned Chinese institutions, owned by Chinese shipping companies, and reliant on a global maritime and logistics infrastructure increasingly dominated by China.'
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