US-China maritime deal likely to lift sanctions on Hanwha Ocean

Hanwha Ocean is expected to benefit from the trade deal struck between United States President Donald Trump and Chinese President Xi Jinping, as Beijing will presumably lift sanctions on Hanwha Ocean’s U.S. subsidiaries as a result of the agreement. According to a fact sheet released by the White House on Sunday, “China will remove measures it took in retaliation for the U.S.’s announcement of a Section 301 investigation on China’s Targeting the Maritime, Logistics and Shipbuilding Sectors for Dominance, and remove sanctions imposed on various shipping entities.” Washington also noted that it will suspend implementation of the responsive actions taken as part of the Section 301 investigation on China for one year, starting Nov. 10, and negotiate with China while “continuing its historic cooperation with the Republic of Korea and Japan on revitalizing American shipbuilding.” The fact sheet is an outcome of the Trump-Xi summit in Busan on Thursday, on the sidelines of the Asia-Pacific Economic Cooperation summit in Gyeongju, North Gyeongsang Province. The Section 301 investigWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times