On November 9 (Eastern Time), the Office of the United States Trade Representative (USTR) issued a major announcement, stating that it will suspend the restrictive measures related to the Section 301 investigation targeting China’s maritime, logistics, and shipbuilding industries starting from the early morning of November 10, with a suspension period of one year. Almost simultaneously, China’s Ministry of Transport and Ministry of Commerce successively introduced supporting measures, suspending countermeasures such as collecting special port dues on U.S. ships and lifting countermeasures against five U.S.-related subsidiaries of Hanwha Ocean Co., Ltd., forming a positive trend of “two-way relaxation.”
This Sino-U.S. economic and trade interaction has been interpreted by the market as a key measure to implement the consensus reached in the Kuala Lumpur economic and trade consultations. The USTR stated in the announcement that the suspension of restrictions is based on dual considerations of “global supply chain stability” and “domestic U.S. industrial needs.” Data shows that the U.S. shipbuilding industry relies on China for 35% of its maritime equipment, and 60% of the container cranes used by U.S. logistics companies are manufactured by Chinese producers. The previous restrictive measures have increased the cost of port equipment upgrades in the U.S. by 20%, and some terminal expansion projects have been forced to be delayed.
For China’s relevant industries, the suspension of restrictions will effectively ease export pressures. According to data from the China Association of the National Shipbuilding Industry, in the first three quarters of 2025, the number of new orders received by China’s shipbuilding industry decreased by 12% year-on-year, with orders from the U.S. market dropping by 30%. After the lifting of restrictions, industry institutions predict that exports to the U.S. will rebound in the fourth quarter, and the number of new orders received throughout the year is expected to achieve positive growth. A spokesperson for China’s Ministry of Commerce stated that China welcomes the pragmatic measures taken by the U.S. side. The two sides will continue to communicate on differences in the economic and trade fields based on this suspension measure, and promote the construction of a stable economic and trade cooperation relationship.
Cross-border logistics companies have become direct beneficiaries. Maersk, the world’s largest container shipping company, stated that the suspension of relevant Sino-U.S. restrictions will reduce logistics costs on the trans-Pacific route, and it is expected that the transportation cost per TEU (twenty-foot equivalent unit) can decrease by $80-100, which will help increase the cargo volume of the trans-Pacific route. The shipping sectors in A-shares and Hong Kong stocks responded positively. On November 10, the stock price of COSCO Shipping Corporation Limited rose by 4.2%, COSCO SHIPPING International rose by 3.8%, and logistics companies among U.S.-listed Chinese concept stocks also generally rose.
It is worth noting that this two-way suspension measure focuses on specific fields and does not involve core competitive areas such as semiconductors and new energy, indicating that the Sino-U.S. economic and trade game still presents a pattern of “limited relaxation and key competition.” The Director of the Institute of International Market Research of the Chinese Academy of International Trade and Economic Cooperation pointed out that the one-year suspension period provides a buffer space for both sides. In the future, more in-depth consultations are needed to establish a long-term cooperation mechanism to avoid the cyclical fluctuations of “restriction-countermeasure-suspension” in relevant fields.
