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China unfairly dominates shipbuilding, US investigation finds, paving way for penalties

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US Trade Representative Katherine Tai launched investigation in April at the request of the United Steelworkers and 4 other US unions US President Joe Biden's administration has concluded that China uses unfair policies and practices to dominate the global maritime,
The U.S. investigation, as reported by MSN, has concluded that China unfairly dominates the global shipbuilding industry, potentially paving the way for the U.S. to impose penalties. The investigation, led by the U.S. Trade Representative's office, found that China's practices include providing massive state subsidies, below-market financing, and other forms of support that disadvantage foreign competitors. This has led to an overcapacity in shipbuilding, where Chinese shipyards can offer lower prices due to these subsidies, affecting the competitiveness of U.S. and other international shipbuilders. The findings could lead to the U.S. implementing trade measures or sanctions to counteract these practices, aiming to level the playing field in the global shipbuilding market.

Read the Full MSN Article at:
[ https://www.msn.com/en-xl/politics/government/china-unfairly-dominates-shipbuilding-us-investigation-finds-paving-way-for-penalties/ar-BB1roasr ]