According to a report by Reuters on July 8, a study by the German Institute for Economic Research (DIW) indicates that the United States' plan to impose port fees on Chinese-made merchant ships could benefit Germany. Compared to the scenario without such fees, Germany's exports to the United States are expected to increase by approximately 2%.
Research shows that the reason is that German freight shipping fleets rely less on Chinese-made ships compared to some competitors. Therefore, German exporters are expected to increase their market share.
The US government plans to implement this port charge measure starting in November, under the pretext of national security considerations, in order to counter China's dominance in the shipbuilding industry. The charging standard will be based on the location where the ships are built, rather than the ownership of the goods they transport.
In response to this, the Chinese Ministry of Foreign Affairs stated that such measures harm both others and oneself. They not only increase global shipping costs and disrupt the stability of global supply chains, but also create inflationary pressures within the United States, harming the interests of American consumers and businesses. Ultimately, these measures will not contribute to the revitalization of the American shipbuilding industry.
The German Economic Research Institute also stated that this measure will primarily harm the interests of the United States. It is expected that both U.S. imports and exports will decline by 0.2% and 0.3%, respectively.
German Institute for Economic Research economist Sonali Chowdhry said, "The mechanism is simple. Higher port fees increase the cost of intermediate inputs, reducing the competitiveness of American manufacturers. Additionally, a slowdown in economic activity will further suppress demand for foreign goods."
Within the EU, Finland, Denmark, and Poland will be the most severely affected. U.S. exports are expected to decline by 5.0%, 4.4%, and 3.0%, respectively.
Costa Rica, Vietnam, and Pakistan, emerging economies, may see their exports to the U.S. decline by nearly 9%, while South Korea is expected to witness export growth of around 2%.
