China has announced the immediate suspension of “special port fees” on U.S. vessels for one year. The fees, which applied to ships operated by or built in the United States that visited Chinese ports, were lifted at 13:01 local time on Monday. This move responds to the United States’ decision to pause levies on Chinese ships, part of a fragile trade truce between the two superpowers.
The trade and tariff war between the United States and China has persisted for months, with duties on both sides reaching triple‑digit levels and hampering commerce between the world’s two largest economies. After a meeting between Presidents Xi Jinping and Donald Trump in South Korea last month, both countries agreed to roll back some punitive measures.
In a related development, Beijing has also suspended sanctions against U.S. subsidiaries of Hanwha Ocean, one of South Korea’s largest shipbuilders. The year‑long suspension, effective from November 10, is linked to the U.S. halting port fees on Chinese‑built and operated ships. China’s commerce ministry said the suspension of measures against Hanwha is a direct response to the U.S. action and will remain in place for one year.
These suspensions signal a thaw in economic ties between the United States and China. Earlier, China announced it would extend the suspension of additional tariffs on U.S. goods for a year, keeping them at 10 percent, and would suspend some tariffs on soybeans and other U.S. agricultural products. It also lifted an export ban on gallium, germanium and antimony—metals crucial for modern technology. In turn, the United States agreed to suspend, for one year, export restrictions on affiliates of blacklisted foreign companies in which it holds at least a 50 percent stake.
The trade truce is expected to positively affect global trade and supply chains, which have been strained by the ongoing dispute. The next steps in negotiations between the two countries will be closely watched by the international community.
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