China suspends "special" port fees for US vessels
On Monday, the Chinese official announced the suspension of special tariffs on US vessels docking at Chinese ports. On the same day, other measures to ease the Sino-US trade war also came into effect.
The Sino-US trade conflict, which has lasted for several months, has had a significant impact on the global economy. High tariffs have seriously hindered bilateral trade, but there are now signs of easing.
After the meeting on October 30, the two sides agreed to temporarily cancel some of the punitive trade measures they had previously implemented.
The Ministry of Transport of China confirmed on Monday that it would suspend the "special" tonnage port fees imposed on vessels owned or operated by US companies, organizations, or individuals arriving at Chinese ports for a period of one year.
The Ministry of Transport stated that the collection of these port fees would be suspended starting at 1:00 PM local time. Last month, China had announced the imposition of these fees in response to similar measures taken by the United States to curb China's dominance in the shipbuilding industry.
After World War II, the United States was a leader in the global shipbuilding industry, but its current output accounts for only 0.1% of the global total. One country, China, builds nearly half of the world's ships, far exceeding South Korea and Japan.
Additionally, the Chinese Ministry of Commerce announced that it would immediately suspend sanctions against five US subsidiaries of Hanwha Ocean, a major South Korean shipbuilder, for a period of one year.
Another sign of easing Sino-US tensions is that the Chinese Ministry of Commerce announced on Monday that it had added about ten elements used in the production of fentanyl to the list of products subject to export controls for the United States, Mexico, and Canada.
Moreover, Beijing has stopped imposing additional tariffs on US agricultural products, including soybeans, since today, Monday.
Source: rfi
Original: www.toutiao.com/article/1848443588346890/
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