HONG KONG (AP) — China has banned dealings by Chinese companies with five subsidiaries of South Korean shipbuilder Hanwha Ocean. The Commerce Ministry announced Tuesday that Beijing also was investigating a probe by Washington into China’s growing dominance in world shipbuilding. The U.S. Trade Representative launched the Section 301 trade investigation in April 2024. It determined that China’s strength in the industry was a burden to U.S. businesses. International shipping and shipbuilding have become a recent focus of trade friction between Washington and Beijing. Each side has imposed new port fees on each others’ vessels, with the new fees taking effect on Tuesday.
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