The Chinese government has announced sanctions against five U.S. subsidiaries of Hanwha Ocean.
On the 14th, the Chinese Ministry of Commerce stated, "In order to retaliate against the United States' Section 301 investigation and measures on China's maritime, logistics, and shipbuilding industries, we are announcing the 'Decision on the Adoption of Countermeasures Against Five U.S. Subsidiaries of Hanwha Ocean Co., Ltd.'"
President Lee Jae-myung visited Hanwha Philly Shipyard in Philadelphia, USA, on August 26 (local time). Photo by Yonhap News
It appears that the United States has begun retaliatory measures, imposing port entry fees on ships operating to and from China and on Chinese-built vessels, based on the results of the Section 301 investigation under U.S. trade law, effective from today.
The entities subject to sanctions are Hanwha Shipping LLC; Hanwha Philly Shipyard Inc. in Philadelphia, Pennsylvania, which President Lee Jae-myung visited in August; Hanwha Ocean USA International LLC; Hanwha Shipping Holdings LLC; and HS USA Holdings, making a total of five companies.
The Chinese government has prohibited organizations and individuals in China from conducting any transactions or cooperation with these companies.
The Ministry of Commerce stated, "By implementing final measures under Section 301 investigations into China's maritime, logistics, and shipbuilding sectors, the United States has seriously violated the basic principles of international law and international relations, and has significantly infringed upon the legitimate rights and interests of Chinese companies." The ministry added, "Hanwha Ocean supported the U.S. government in conducting Section 301 investigations and taking actions against China's maritime, logistics, and shipbuilding sectors through its relevant subsidiaries in the United States."
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