USTR finds China's shipbuilding dominance hurts US, is actionable

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The story "USTR finds China&#039;s shipbuilding dominance hurts US, is actionable" was covered 18 hours ago by Economic Times, a news publisher based in India.

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USTR finds China's shipbuilding dominance hurts US, is actionable - Economic Times

Quick Summary:

USTR said its report "supports a determination that China's targeting of the maritime, logistics, and shipbuilding sectors for dominance is unreasonable and burdens or restricts U.S.commerce and thus is actionable".

Tai said in a statement that the U.S.commercial shipbuilding sector has fallen to less than five ships a year from 70 in 1975, while China now builds 1,700 ships annually.

"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," Tai said.