Dhaka, April 18 -- The Trump administration shielded on Thursday domestic exporters and vessel owners servicing the Great Lakes, the Caribbean and US territories from port fees to be levied on China-built vessels, aiming to revive US shipbuilding.

The Federal Register notice posted by the US Trade Representative was watered down from a February proposal for fees on China-built ship of up to $1.5 million per port call that sent a chill through the global shipping industry.

Ocean shipping transports about 80 per cent of global trade - from food and furniture to cement and coal. Industry executives feared virtually every cargo carrier could face steep, stacking fees that would make US export prices unattractive and foist annual import cost...