The Trump administration suspended docking fees for Chinese-built ships as part of a "trade truce" last month. The move has drawn criticism for weakening U.S. efforts to protect port access—so-called privileges—and increasing supply chain vulnerabilities. U.S. dependence on the Chinese fleet is now massive. Last year, more than $5 trillion worth of goods flowed through U.S. ports, including $3 trillion in imports, and nearly a third of that was carried by ships built, owned, or operated by China. The U.S. shipbuilding industry itself has declined sharply: from 77 commercial vessels built in...
China has begun designing a new rare earth licensing regime that could speed up shipments, but it is unlikely to amount to a complete rollback of restrictions as hoped by Washington, industry insiders said. The Ministry of Commerce told some rare earth exporters they will be able to apply for new streamlined permits in the future and in industry briefings outlined the documents that will be required, two sources familiar with the matter said. The export curbs have become Beijing's most potent source of leverage in its trade rivalry with Washington, as China produces over 90% of the world's...
The U.S. Senate is expected to hold a test vote on a spending bill on Sunday evening to end the longest ever U.S. government shutdown, with ABC News reporting that enough Democrats now supported the measure. ABC reported that there will be enough Democratic votes to pass a measure approving funding for the government until January 31, citing a senior Democratic senator. The bill is unlikely to include any extension of the Obamacare subsidies that the Democrats have been holding out for, ABC reported. The ABC report came just before the Senate kicked off a rare late-Sunday session at 6:00...