INTERNATIONAL
China takes steps against US-linked units of S.Korea shipbuilder Hanwha
Gantry cranes stand near shipping containers at Yangshan Port outside of Shanghai, China. - REUTERS
BEIJING: China has taken countermeasures against five U.S.-linked subsidiaries of South Korean shipbuilding firm Hanwha Ocean, the Chinese commerce ministry said on Tuesday.
AI Brief
Organisations and individuals within China are prohibited from engaging in any transactions, cooperation or related activities with these entities, the ministry said in a statement.
"Hanwha Ocean's U.S.-related subsidiaries have assisted and supported the U.S. government's relevant investigative activities, thereby jeopardising China's sovereignty, security, and developmental interests," the statement said.
Hanwha did not immediately respond to a Reuters request for comment.
The move comes on the day that China and the U.S. implement additional port fees targeting each others' vessels, although China has exempted ships it built.
U.S. President Donald Trump's administration announced earlier this year plans to levy fees on China-linked ships to loosen Beijing's grip on the global maritime industry and bolster U.S. shipbuilding.
China hit back last week saying it would impose its own port fees on U.S.-linked vessels on the same day then U.S. fees come into effect.
China has called U.S. measures targeting its maritime, logistics, and shipbuilding industries a serious violation of international law and fundamental norms of international relations.
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- China banned dealings with Hanwha Ocean for aiding US investigations, citing threats to its sovereignty and security.
- The move coincided with China and the US imposing new port fees on each other's vessels in a growing maritime trade dispute.
- China criticised US actions as violations of international law and norms, escalating tensions in global shipping and trade.
Organisations and individuals within China are prohibited from engaging in any transactions, cooperation or related activities with these entities, the ministry said in a statement.
"Hanwha Ocean's U.S.-related subsidiaries have assisted and supported the U.S. government's relevant investigative activities, thereby jeopardising China's sovereignty, security, and developmental interests," the statement said.
Hanwha did not immediately respond to a Reuters request for comment.
The move comes on the day that China and the U.S. implement additional port fees targeting each others' vessels, although China has exempted ships it built.
U.S. President Donald Trump's administration announced earlier this year plans to levy fees on China-linked ships to loosen Beijing's grip on the global maritime industry and bolster U.S. shipbuilding.
China hit back last week saying it would impose its own port fees on U.S.-linked vessels on the same day then U.S. fees come into effect.
China has called U.S. measures targeting its maritime, logistics, and shipbuilding industries a serious violation of international law and fundamental norms of international relations.