Two more months of truce: shippers get a December, not a deal

Quick update: Washington and Beijing have pushed their Busan truce, including the suspension of port fees on each other’s ships, to 10 January. That buys shippers time, and it sets a new cliff four weeks before Chinese New Year. Treasury Secretary Scott Bessent said on 23 September that Washington and Beijing had agreed to push the expiry of their Busan trade truce from 10 November to 10 January 2 Read full article →