US lawmakers propose taxing Chinese ships, forcing cargo on to US vessels
The SHIPS for America Act, introduced on Thursday, proposes sweeping changes for US imports and exports
America is woefully behind China when it comes to shipbuilding and shipowning. A new bipartisan bill proposes shock therapy to jumpstart a revival. It proposes taxing Chinese ships calling at US ports; requiring US-built ships to eventually carry 10% of US imports from China, 15% of US LNG exports and 10% of US crude exports; and increasing liability limitations for foreign vessels by 10 times
