Energy Insider: U.S., China to Suspend Mutual Port Fees for One Year
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U.S. and China to suspend mutual port fees for one year
The U.S. and China have agreed to a one-year suspension of mutual port fees that were imposed following a Section 301 investigation into China’s maritime logistics sector. The White House announced on Nov. 1 that the suspension of U.S. levies will begin on Nov. 10. According to the announcement, China will concurrently cancel its corresponding retaliatory fees. The two countries will continue negotiations on the matter. China has not yet released further details regarding the agreement.
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- U.S. and China agreed to suspend mutual port fees for one year starting Nov. 10, 2024, with ongoing negotiations.
- China will suspend farm tariffs and buy at least 12 million tons of U.S. soybeans in late 2025 and 25 million tons annually through 2028.
- BYD launched an electric K-Car for Japan; Li Auto recalled 11,411 MEGA EVs after a fire; PipeChina added nearly 5 billion cubic meters of gas storage since 2021.
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Who’s Who
- BYD Co. Ltd.
- BYD Co. Ltd. unveiled an electric K-Car model specifically designed for the Japanese market at the Japan Mobility Show on October 30. This is a unique instance of a Chinese automaker creating a dedicated model for an overseas market. K-Cars are small vehicles popular in Japan due to their low ownership costs and urban convenience.
- Li Auto Inc.
- Li Auto Inc. will recall 11,411 of its 2024 MEGA multipurpose vehicles, starting November 7. This decision follows a MEGA model catching fire in Shanghai on October 23, from which the occupants escaped unharmed. The recall plan was filed by Li Auto in accordance with regulatory requirements.
- Baoshan Iron and Steel Co. Ltd.
- Baoshan Iron and Steel Co. Ltd. (Baosteel) recently adjusted its production capacity target to "80 million tons-plus." This change signals a shift in focus from volume to value, as the company aims to optimize returns from its existing assets rather than solely pursuing scale. Baosteel also expressed a long-term goal to secure over 5 million tons of overseas capacity, contingent on favorable timing and investment returns.
- China Oil & Gas Pipeline Network Corp.
- China Oil & Gas Pipeline Network Corp., or PipeChina, a state-owned company, has significantly increased China's gas storage capacity. Since the beginning of the 14th Five-Year Plan period (2021-2025), PipeChina has added nearly 5 billion cubic meters of gas storage. This includes the completion of the Wen-23 gas storage facility expansion, which is crucial for national energy supply security in central and eastern China.
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What Happened When
- By Oct. 2025：
- PipeChina added nearly 5 billion cubic meters of gas storage capacity since the start of the 14th Five-Year Plan period (2021–2025).
- March 4, 2025：
- China had announced retaliatory tariffs on U.S. agricultural products since this date.
- Oct. 23, 2025 (evening)：
- A fire incident involving a Li Auto MEGA model occurred in Shanghai.
- Oct. 30, 2025：
- BYD unveiled an electric K-Car model for the Japanese market at the Japan Mobility Show.
- Oct. 31, 2025：
- State Administration for Market Regulation announced that Li Auto will recall 11,411 units of 2024 MEGA multipurpose vehicles starting Nov. 7, 2025.
- Oct. 31, 2025：
- Baoshan Iron and Steel Co. Ltd. announced the revision of its production capacity target to '80 million tons-plus.'
- Nov. 1, 2025：
- The White House announced that the U.S. and China have agreed to a one-year suspension of mutual port fees, with the U.S. levies suspension to begin on Nov. 10, 2025, and China to concurrently cancel its corresponding retaliatory fees.
- Nov. 1, 2025：
- According to the White House, China will suspend all retaliatory tariffs on U.S. agricultural products that were announced since March 4, 2025.
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