Denmark-headquartered shipping association BIMCO has kick-started the development of a standard industry clause that would tackle the contractual uncertainties brought on by the United States Trade Representative’s (USTR) Notice of Actions to impose tariffs on Chinese-related vessels calling US ports.
As a response to the Section 301 investigation of China’s targeting of the maritime, logistics, and shipbuilding sectors for dominance, in February 2025, the USTR proposed a set of tariffs that would be charged to every vessel built in China or owned by companies based in the East Asian country. The initial idea was to impose fees of up to $1.5 million , a decision that amassed criticism and scrutiny from numerous corporations as well as organizations.