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The United States and China on Tuesday will begin charging port fees on ocean shipping firms that move everything from holiday toys to crude oil, making the high seas a key front in the trade war between the world's two largest economies.
Stocks jumped Monday after President Trump said "all will be fine" with China, easing investor fears about his threat to add a new 100% tariff on the country's imports.
The past week could just be a preview to China weaponizing its entire supply chain, the investor told Fortune.
China has officially started collecting special port fees from U.S.-owned, operated, built, or flagged vessels on Tuesday but said Chinese-built ships would be exempted from the levies, according to state broadcaster CCTV.
US stocks rebounded sharply on Monday after Friday’s widespread sell-off as investors tried to temper their concerns about renewed US-China trade tensions.
The US has called for the release of 30 leaders of one of China's largest underground church network who were reportedly detained over the weekend in overnight raids in various cities.
Wall Street's main indexes ended sharply higher on Monday, led by gains in Broadcom and other chipmakers, after President Donald Trump struck a conciliatory tone about renewed U.S.-China trade tensions,