Beijing announced on Nov. 10 the suspension of sanctions on a leading U.S. shipbuilder, citing an agreed-upon pause to related tariffs by the United States.
The Chinese Ministry of Commerce had imposed the sanctions on five U.S. subsidiaries of South Korean conglomerate Hanwha in response to Section 301 penalties imposed on China by the United States.
The ministry had cited an “anti-foreign sanctions” law that allows Beijing to impose retaliatory measures when sanctioned.
Hanwha acquired the Philly Shipyard in 2024 and is poised to ramp up U.S. shipbuilding, a priority of the Trump administration.
The announcement comes a day after the office of the U.S. Trade Representative (USTR) announced a suspension of penalties—fees and up to 150 percent tariffs—that had been imposed after a Section 301 investigation into China’s actions in the maritime, logistics, and shipbuilding sectors….