Part 9/13:
Underlying these trade shifts are the intensified conflicts between the US and China. In October, the trade war took a darker turn with reciprocal actions that impact global supply chains:
US Port Fee Measures: The US announced new fees on Chinese vessels, potentially adding billions in costs, which shipping firms might pass on to exporters.
Chinese Countermeasures: China responded with its own port fee hikes for US ships and drastic export restrictions on rare earth elements—crucial materials for electronics, electric vehicles, and defense—controlling 70–90% of global supply.