The US To Impose 25% Tariffs On Chinese-Manufactured Ship-To-Shore Cranes
The US has increased tariffs on imports of Chinese ship-to-shore cranes and other items to protect American businesses from Beijing’s unfair trade practices.
The move represents the bipartisan spirit of the trade war against China, which started under Donald Trump and is ongoing under Joe Biden’s government.
The tariffs, enforced under Section 301 following the Trade Act of 1974, are expected to impact $18 billion in imports.
There is a consensus that China’s economic policies have “stolen” jobs & US is worried about China’s dominance in strategic sectors.
The heightened tariff rates, which will take effect this year, are part of a larger strategy to safeguard US workers, firms, and supply chains.
The decision comes amid concerns regarding the security of US ports and cybersecurity threats from Chinese port equipment.
Shanghai Zhenhua Heavy Industries, with close ties to the Chinese Communist Party, is a crucial supplier of STS cranes to the US.
The firm has come under greater scrutiny over its affiliations with the CCP and concerns that China would use its equipment as spying tools.
Concerns have been raised due to suspicions that China has used cranes for espionage reasons at US ports.
Biden Administration has committed to a $20 billion investment to boost the return of domestic STS crane manufacturing in the US.