China Suspends Port Fees, Sanctions on Hanwha Ocean
China has suspended port fees for U.S. ships and sanctions on five U.S. subsidiaries of South Korean shipbuilder Hanwha Marine Corporation in response to the Trump administration's decision last week to drop ship fees for Chinese vessels and slash tariffs on Chinese goods (see 2511030005).
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China's Commerce Ministry had implemented the measures in mid-October (see 2510140021) as retaliation for U.S. port fees (see 2504180018). China will suspend the measures for one year, it said, according to an unofficial translation.