As financial markets try to move past tariff fears, attention turns to what China will do to buffer its economy and how corporate America and business activity globally is holding up.

The US has revealed plans to impose port fees on Chinese ships to try to revive shipbuilding in the US and challenge China's dominance of the industry. From mid-October, Chinese ship owners and operators will be charged $50 per ton of cargo with the fees increasing each year for the next three years.

The U.S. is moving forward with a plan to charge fees on Chinese ships calling at American ports, part of the Trump administration’s effort to counter China’s dominance in ocean shipping and revive the domestic maritime industry.