FX.co ★ U.S. Pauses Shipbuilding Tariffs in Trade Truce with China

The United States is advancing with President Donald Trump’s strategy to pause penalties affecting China's shipbuilding sector, a significant concession in his provisional trade agreement with President Xi Jinping. The Office of the U.S. Trade Representative announced on Thursday that it is soliciting public input on a proposed one-year suspension of tariffs on Chinese imports, which include ship-to-shore cranes and intermodal chassis. This also encompasses fees on Chinese-built and operated merchant vessels docking at U.S. ports. In exchange, China has consented to stop its retaliatory actions after the recent meeting between Trump and Xi. This decision effectively halts for a year any new tariffs or sanctions connected to a U.S. investigation into China’s maritime, logistics, and shipbuilding industries.