US – Maritime Policy Will Raise Compliance Risks for Shipping Sector; National Security Concerns Will Persist

On 14 October, US Customs and Border Patrol began implementing new fees on vessels linked to China, including those that are Chinese owned, operated or built.

The fees aimed to diminish China’s influence on global commercial shipping, protect US port security and promote domestic shipbuilding.

However, on 29 October, the US and China announced preliminary agreements on a number of key issues following an in-person meeting between US President Donald Trump and Chinese President Xi Jinping.

The Chinese Ministry of Commerce stated that the US agreed to suspend its port fees on China’s maritime industry for one year, after which Beijing would suspend its own counter-measures.

At the time of writing, no official agreement has been signed and it remains unclear when port fees will be suspended.

In the absence of sweeping federal policy changes, the private sector is likely to face increasing scrutiny and compliance risks in the medium-to-long term amid US competition with China.

To explore the impacts on the global shipping landscape, request a free copy of the report below.

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