The US has revealed plans to impose port fees on Chinese ships to try to revive shipbuilding in America 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.

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 United States unveiled new port fees on Chinese-built and operated ships on Thursday (Apr 17), in a bid to boost the domestic shipbuilding industry and curb China's dominance in the sector. The move,