Beijing [China], Seoul [South Korea], October 14 (ANI): China on Tuesday imposed sanctions on five US-linked subsidiaries of South Korea’s Hanwha Ocean Corporation in response to Washington’s probe into China’s maritime, logistics, and shipbuilding industries, state media reported.
According to an official statement from China’s Ministry of Commerce, the sanctions took effect immediately. The ministry said the US actions “seriously violate international law and the basic norms governing international relations, and gravely undermine the legitimate rights and interests of Chinese enterprises.” It added that the sanctioned US subsidiaries had “assisted and supported investigations conducted by the US government, endangering China’s sovereignty, security, and development interests.”
The move comes amid US President Donald Trump’s repeated emphasis on strengthening shipbuilding cooperation between Seoul and Washington. According to South Korea’s Yonhap News Agency, Hanwha Ocean had been expected to benefit significantly from these partnerships. Industry experts in Seoul described Beijing’s sanctions as both a countermeasure against Washington and a warning to South Korea, which is a major competitor to China in the global shipbuilding market.
China’s Commerce Ministry identified the sanctioned subsidiaries as Hanwha Shipping LLC, Hanwha Philly Shipyard Inc., Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC, and HS USA Holdings Corp. The Transport Ministry also launched an investigation into how the US Section 301 probe affects the security and development of China’s shipbuilding and logistics industries, according to Xinhua News Agency.
Additionally, China announced new special port fees for US ships arriving in Chinese ports. The Transport Ministry said the measure aims to “safeguard the legitimate rights and interests of the Chinese shipping industry and ensure fair competition in international shipping.” The fees apply to vessels owned or operated by entities where US companies or individuals hold at least a 25 percent stake, as well as all US-flagged and US-built ships.
The phased port fee structure begins at 400 yuan (USD 56) per net ton starting Tuesday and will increase annually on April 17 for the next three years. The ministry said the levy was imposed in retaliation for the US decision to charge additional port fees on Chinese vessels arriving at American ports beginning October 14.
China’s Transport Ministry said the US actions “seriously violate WTO rules and the China-US maritime transport agreement,” adding that they disrupt global maritime trade. The Chinese government has also tightened controls on rare earth exports in recent weeks.
Following these developments, President Trump threatened to impose a 100 percent tariff on Chinese goods and other restrictive measures effective November 1.
In a statement issued Tuesday, China’s Ministry of Commerce urged Washington to “correct its wrongdoings” and “demonstrate sincerity in trade discussions.” The ministry said, “The US side cannot seek talks on one hand while threatening to introduce new restrictive measures on the other. This is not the right way to get along with China.”
The remarks followed working-level trade talks between Washington and Beijing on Monday, as tensions between the world’s two largest economies continue to escalate. (ANI)
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