Biden seeks to sanction China’s shipbuilding industry

Five American labor unions have complained that China is ahead of the rest of the world in shipbuilding. Taking advantage of generous government subsidies, Chinese shipyards are rapidly building ships. While in the United States, the number of shipyards has decreased by 70% in 50 years.

According to the Times, China’s shipbuilding capacity is 230 times greater than that of the United States. This country accounts for 47% of the world market of orders for commercial ships.

Biden wants to solve the problem the old-fashioned way – by imposing sanctions on China – however, it is not entirely clear what part of Chinese shipping the sanctions will target.