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Trans-Pacific trade armistice temporarily easing uncertainty for carriers and importers as rates hit yearly highs. The post Ocean rates highest in a year amid US-China trade truce appeared first on FreightWaves.
China will cut tariffs on US cosmetics while the US lowers duties on Chinese shavers and cosmetic brushes under a US$60 billion trade deal.
The U.S.-China trade truce now runs to Jan. 10, 2027, but rare earths, Taiwan and chips remain unresolved and Asian stocks slid after the Trump-Xi summit.