U.S. to suspend BIS ‘50 percent rule,’ port fees on China; Beijing to buy soybeans

As part of its newly announced deal with China, the U.S. has agreed to suspend for one year a rule issued by the Bureau of Industry and Security in September, which significantly expanded its export controls to capture thousands of Chinese entities, and to suspend for one year port fees on Chinese ships implemented just weeks ago. Treasury Secretary Scott Bessent confirmed the commitments in an interview with Fox Business News on Thursday. China’s Ministry of Commerce also touted the...