The US Trade Representative announced a plan last month to impose tariffs of up to 100% on ship-to-shore cranes and cargo handling equipment made in China or built using Chinese parts. — The Korea Herald
SEOUL: Port cranes have surfaced as South Korea’s next bargaining chip in tariff negotiations with the United States in the wake of the Trump administration’s efforts to phase out made-in-China cranes at US ports.
The US Trade Representative announced a plan last month to impose tariffs of up to 100% on ship-to-shore, or STS, cranes and cargo handling equipment made in China or built using Chinese parts, emphasising the need to reduce America’s reliance on Chinese maritime infrastructure and address national security concerns.
According to a report by the US Select Committee on the Chinese Communist Party, Shanghai Zhenhua Heavy Industry, or ZPMC, the world’s largest STS crane manufacturer, run by the Chinese government, accounts for almost 80% of the STS cranes used at US ports.
The report added that there were no domestic manufacturing alternatives for STS cranes in the United States.
The United States has openly mentioned South Korea’s shipbuilding sector as an area where it seeks cooperation while it continues to push for the revitalisation of its own shipbuilding industry. On top of the shipbuilding sector, South Korea is poised to support the Trump administration’s “Make America Great Again” agenda with US domestic port crane manufacturers.
To this end, HD Hyundai, which operates the world’s largest single shipyard at its HD Hyundai Heavy Industries’ Ulsan site and boasts significant crane manufacturing capacity, has emerged as a key player. — The Korea Herald/ANN
