2024-05-07 09:55:28
Depending on the results of the investigation, tariffs, etc. may be imposed.
FT “It won’t be of much help to U.S. shipyards.”
As the U.S. government is investigating unfair trade practices targeting Chinese shipbuilding companies, analysis suggests that the biggest beneficiaries will be Korea and Japan.
Britain’s Financial Times (FT) said on the 5th (local time), “The U.S. Joe Biden administration’s attempt to challenge China‘s hegemony in the shipbuilding industry will do little to revive U.S. shipyards. Rather, Korea and Japan are supporting China’s hegemony.” “There is a high possibility of gaining an advantage in competition with .”
Last month, the Office of the United States Trade Representative (USTR) invoked Article 301 of the Trade Act in response to a petition from the United Steel Workers (USW) and others and began investigating unfair practices in China’s shipbuilding and shipping industries. Depending on the results of the investigation, the United States may impose tariffs on China’s shipbuilding industry. However, since there are currently few orders from the United States to Chinese shipyards, there is also discussion of charging a port usage fee of about $50 (about 68,000 won) per container when a Chinese ship enters the United States, rather than tariffs.
Stuart Nicol, director of Maritime Strategy International, a maritime consulting firm, told the FT, “It costs three to four times more to build ships in the U.S. than in other countries,” adding, “It is absurd to expect that the U.S. will rebuild its shipbuilding sector with this move.” “It doesn’t exist,” he pointed out.
Rather, thanks to this investigation by the United States, orders for ships from Korea and Japan, which are competitive in price and quality, are expected to increase. The FT analyzed, “Korea’s total ship orders in the first quarter of this year (January to March) increased by 41.4% compared to a year ago,” and “the increase was greater than that of China, which increased by 8.6% during the same period.”
Khun Kao, vice president of consulting firm Lidal, also said, “The U.S. investigation may be helpful to Korea and Japan, but it will not be of much help to the U.S.” and “It could be a ‘very tricky lever’ to use against China.” “He pointed out.
Washington = Correspondent Moon Byeong-ki [email protected]
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2024-05-07 09:55:28