China Extends Two-Month Sanctions Waiver for Hanwha Ocean’s U.S. Subsidiary
China’s Ministry of Commerce Decree No. 4 Issued; to Take Effect for Two Months Starting on the 10th
China's Ministry of Commerce: "As part of implementing the agreement reached in the China-U.S. economic and trade consultations"
Extension of the Moratorium on Retaliatory Tariffs Against the U.S. Also Appears Timed to Coincide with the Trade Truce Deadline
[Edaily Reporter KIM JUNG YOU ] The Chinese government has extended the suspension of sanctions against five U.S. subsidiaries of Hanwha Ocean(042660)by two months. This is a follow-up measure following the agreement between the U.S. and China to extend the trade truce until January of next year. For Hanwha Ocean, which had been caught in the crossfire of U.S.-China tensions, this means the burden of sanctions will be eased for the time being. A panoramic view of Hanwha Ocean’s Philippines shipyard. On the 9th, China’s Ministry of Commerce issued “Ministry of Commerce Decree No. 4 of 2026” in the name of Minister Wang Wentao, announcing, “To implement the agreement reached in the China-U.S. economic and trade consultations, we are extending the suspension of sanctions against five U.S.-related subsidiaries of Hanwha Ocean for an additional two months.” This decision takes effect on the 10th.
The Ministry of Commerce explained that it made this decision based on China’s Anti-Foreign Sanctions Law and related implementing regulations. The suspension applies to “Ministry of Commerce Decree No. 6 of 2025,” issued last year, which imposed counter-sanctions on Hanwha Ocean’s five U.S. subsidiaries.
This measure is part of the ongoing U.S.-China trade truce. China also extended the suspension of the 24% additional tariffs on U.S. products starting today. During their meeting in Washington last September, the leaders of both countries agreed to extend the truce period—originally agreed upon at the Busan summit last October—until January 10 of next year. This two-month extension is interpreted as aligning with that truce deadline.
Hanwha Ocean finds itself at the center of the U.S.-China competition for dominance in the shipping and shipbuilding industries. Last year, China imposed sanctions on Hanwha Ocean’s U.S. subsidiaries on the grounds that they had cooperated with a U.S. Section 301 investigation targeting China’s shipping and shipbuilding industries. Since then, the implementation of these sanctions has been suspended following the U.S.-China agreement on a trade truce reached at the Busan summit.
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