Shipping lines push for GRI amid Trump-Xi meeting

Liner operators are pushing ahead with a 1 November transpacific general rate increase, hopeful of a resolution to US-China trade tensions with US President Donald Trump’s meeting with his Chinese counterpart Xi Jinping today (30 October).

The Trump-Xi meeting lasted 100 minutes in Busan, South Korea, with China pledging to invest more in the US and lifting controls on rare earth exports. China has also said it will import more soybeans and farm products from the US, which would lower fentanyl-related tariffs from 20% to 10%. That reduces the total combined tariff rate on China from 57% to 47%.