US proposal seeks to impose fees of up to US$1.5M per port visit on Chinese vessels.

Market manipulation by China has been an ongoing concern for over two decades. Recently, the Acting US Trade Representative Juan A Millán signed a plan aimed at addressing this issue.

For years, China has been accused of manipulating its markets to gain an unfair advantage in global trade. By keeping its currency artificially low, China can make its exports cheaper and imports more expensive, leading to a trade imbalance that is detrimental to other countries.

The plan signed by Juan A Millán is designed to combat this manipulation. It includes measures aimed at ensuring that China plays by the rules of international trade. By holding China accountable for its actions, the plan aims to level the playing field for all countries involved.

One of the key components of the plan is increased transparency. By requiring China to disclose more information about its market practices, other countries can better understand the extent of China’s manipulation. This transparency will help to prevent China from engaging in illegal activities that distort global markets.

Additionally, the plan includes provisions for enforcement mechanisms. This means that if China is found to be manipulating its markets, there will be consequences. By holding China accountable for its actions, the plan aims to deter future manipulation and create a more fair and balanced trading environment.

Overall, the plan signed by Juan A Millán represents a step in the right direction towards combating market manipulation by China. By increasing transparency and enforcing accountability, the plan aims to create a more level playing field for all countries involved in global trade. While it may take time to see the full effects of these measures, they represent an important milestone in the ongoing effort to ensure fair and ethical trade practices.