USTR declares China's dominance in shipbuilding sectors "actionable"

Mysteel Global: The Office of the US Trade Representative (USTR) on January 16 issued its investigation result that found China's targeted dominance in the maritime, logistics and shipbuilding sectors is "actionable" under Section 301 of the Trade Act of 1974.

The investigation, initiated in response to a petition filed by five US labor unions in mid-March last year, has now concluded that China's targeted dominance in the above-mentioned sectors is unreasonable and burdens US commerce, posing significant risks to the country's economic security and supply chain resilience, as per the release.

"Today, the US 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," said Ambassador Katherine Tai. The investigation findings set the stage for urgent action to invest in American industries and strengthen supply chains, Tai stated.

The findings also pointed to economic security risks from dependence on Chinese-made vessels, financing, and logistics infrastructure.

In response to the USTR release, China's Ministry of Commerce spokesperson criticized the investigation results during a press conference on January 17, calling them "unilateral" and "protectionist," Mysteel has learned.

The spokesperson argued that historical evidence shows the decline of the US shipbuilding industry is unrelated to China and emphasized that China's shipbuilding sector has developed without relying on "non-market practices."

Note: This article has been written in accordance with a content exchange agreement between Mysteel Global and BigMint.