China Halts Special Port Fees for US Ships Amid Trade Truce Developments

China will suspend special port fees for US vessels for one year, coinciding with the United States pausing its tariffs on Chinese ships, as a fragile trade truce emerges.

• On Monday, China announced a one-year suspension of special port fees for US vessels, signaling a potential thaw in trade relations amid ongoing negotiations.
• This decision aligns with the United States temporarily halting tariffs on Chinese ships, following a meeting between President Xi Jinping and President Donald Trump last month in South Korea.
• The trade tensions had escalated, affecting various sectors, including shipbuilding, and prompting both nations to reassess their economic sanctions to stabilize bilateral trade.