Why Trump's fees on Chinese-built ships are making waves in Greece

A bombshell proposal from Washington is sending panic ripples through Greece's powerful shipping industry – and it's all thanks to Donald Trump.

The U.S. president is pushing a plan to slap hefty fees – up to $1.5 million per vessel – on ships linked to China that dock at U.S. ports. And that could be a massive gut punch to Greek shipping giants, who dominate the global seas but rely heavily on Chinese shipyards.

"This is serious," maritime studies professor Ioannis Theotokas tells CGTN. "At the moment, 33 percent of the fleet – that is, of the ships currently at sea – have been repaired in China. About 67 percent of the ships that Greek shipowners are building are in China. 

"So a large number of businesses are tied to the Chinese shipbuilding industry. This means that these companies will be directly affected by the decision of the President of the United States."

The plan, outlined in a draft executive order, aims to weaken China's grip on global shipbuilding. But critics say it's dragging allies like Greece into a trade war they never signed up for.

Out on the docks of Piraeus, there's talk of chaos.

"You start to worry when you see a key player in global trade introducing regulations that were unthinkable in the past," maritime expert George Xiradakis tells CGTN. 

"Some might start thinking that an alternative space for shipbuilding must soon be created, but there's no alternative at the moment."

World's largest merchant fleet

Greece's shipping sector is no small fry – it controls the world's largest merchant fleet, moving everything from oil to iPhones across the planet. And now, many fear a storm is brewing.

The Trump team insists the plan is about national security, claiming U.S. ports are too dependent on Chinese-made vessels. But analysts warn it could backfire spectacularly, pushing up costs and creating chaos in global trade.

"If shipowners avoid U.S. ports, it's not just a problem for Greece – it's a problem for the whole world," says Xiradakis. "This won't be a quick fix."

And the pain won't stop at sea.

"At the end of the day, it's the consumer who'll pay – in the U.S., in Europe, everywhere," warns Theotokas. "Prices will rise. Products will cost more. That's guaranteed."

So while Trump tries to float America's shipbuilding dreams, Greece – and the rest of the world – may be bracing for very choppy waters ahead.