The US will suspend port fees on China-linked vessels for one year starting November 10, de-escalating a maritime dispute that was a key part of the trade war. China will also suspend its retaliatory countermeasures.

This agreement followed a trade truce reached last week between US President Donald Trump and Chinese President Xi Jinping. The original fees, which threatened global shipping and raised freight costs, took effect on October 14.

Besides, the US reduced fentanyl tariffs from 20% to 10% and suspended 24% reciprocal tariffs on Chinese goods for one year. Overall US duties on China dropped from 57% to 47% after the talks, which also covered agricultural trade and drug cooperation.