US to Pause Port Fees on China Ships Starting Nov. 10
Beijing Also Will Suspend Countermeasures
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The US is expected to suspend port fees for a year on China-linked vessels starting next week, as the two countries deescalate a maritime contest that had become a sticking point in the trade war.
From Nov. 10, the U.S. will pause measures designed to combat China’s shipping dominance, the . Meanwhile, Beijing said it would suspend the countermeasures it imposed in retaliation.
The announcements follow the trade truce agreed to last week between President Donald Trump and Chinese leader Xi Jinping, which included detente on a swath of trade issues from semiconductors to rare earths and soybeans.
The mutual imposition of port fees on each other’s vessels threatened to shake-up global shipping, raise freight rates andÌýsnarlÌýthe flow of goods including key commodities like oil.Ìý
During the one-year suspension, the U.S. will negotiate with Beijing over the findings of its probe into China’s lead in maritime industries, according to the fact sheet. Washington will also pursue shipbuilding opportunities with South Korea and Japan, two countries often seen as a counterweight to Chinese yards.
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