China released export restrictions for rare earth minerals and other raw materials last Thursday, with the potential to impact the global economy through increased expenses for large US tech companies reliant on these materials in production. Trump quickly retaliated threatening a 100% tariff on November 1st on top of existing duties on imports from China.

The US has released an update on looming port fees that more than triple the cost for car carriers built anywhere. The Office of the US Trade Representative (USTR) unveiled the updated fees on the same day that China retaliated with matching charges of its own. The car carrier fees are part of a sweeping schedule of port fees that are primarily focused on vessels built, owned or operated by Chinese companies.

China will impose fees from 14th Oct 2025 on vessels calling at Chinese ports that are:

• Owned or operated by US companies or individuals
• Owned or operated by companies where US entities directly or indirectly hold 25% or more of equity (including voting rights or board seats)
• US flagged
• US built
  
  

Potential impacts
Given uncertainties around scope, judging the extent of impact is difficult. However, oil tankers and container ships will be among the hardest hit should China’s port fees targeting US vessels take effect on Tuesday, according to Jeffries LLC. Nearly 16% of tankers that carry refined products and 13% of those that transport crude oil could be charged new fees under Beijing’s latest plan, the Wall Street bank wrote.