24 Nov China-US Postpone Port Service Fees
China and the USA have agreed to suspend port call fees on each other’s vessels for a period of a year, delivering temporary relief to global shipping companies caught in escalating trade tensions.
This announcement is part of a broader truce between the two nations as the USA also agreed to roll back some tariffs on Chinese goods in exchange for Beijing’s pledges to curb illicit fentanyl exports, resume purchases of U.S. soybeans and maintain rare earth supplies.
Further detail including the date of the fee suspensions have not yet been confirmed, however the reneging of these port fees has highlighted the current volatile shipping landscape as some businesses had already made operational adjustments such as revised global trade routes, reconfigured fleets and more in response to the new fees.
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