The tariffs, introduced by both Washington and Beijing, were structured based on the ship's ownership, management, flag and place of construction

The Chinese stock market hit a decade-high in the past few hours as Presidents Donald Trump and Xi Jinping met for the first time in six years: among the main reasons for excitement was the planned suspension of new port taxes that both countries introduced earlier this month

Postponed increasing port fees on Chinese-built ships

The United States has postponed increasing port fees on Chinese-built ships, a move initially aimed at challenging Beijing's dominance in global shipbuilding. The postponement follows the introduction of reciprocal port fees by both countries on October 14. "We'll postpone this issue while we negotiate with them," U.S. Trade Representative Jamieson Greer told reporters aboard Air Force One after Trump and Xi Jinping met in Busan, South Korea. "We're trying to rebuild the shipbuilding industry," she added, signaling a willingness to address the issue through dialogue rather than escalation.

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 The tariffs structure

The tariffs, introduced by both Washington and Beijing, were structured based on a vessel's ownership, management, flag, and place of construction, a structure that industry players say has blurred traditional definitions and created uncertainty in the shipping industry

The two governments will formally stop 

It is not yet clear when the two governments will formally stop collecting taxes or whether payments already made will be refunded. According to the Department of Commerce, another agreement calls for the United States to halve its fentanyl-related tariffs on China to 10%, while China will adjust its countermeasures accordingly.

The United States will also suspend for one year the "50% rule" adopted by the Bureau of Industry and Security on September 29 to expand export controls, while China will postpone the implementation of the rare earth export restrictions introduced on October 9.

Source : Agencies 

China,  US , The Chinese stock market ,Presidents Donald Trump ,Xi Jinping , The tariffs ,new port taxes ,  Chinese-built ships,  U.S. Trade Representative