US suspends action in China shipbuilding sector probe for one year

The U.S. Trade Representative's office said on Sunday it would suspend for one year any action in its Section 301 investigations into China's targeting of maritime, logistics, and shipbuilding sectors for dominance.

The suspension takes effect at 12:01 a.m. ET on November 10, USTR said in a statement.

"The United States will negotiate with China pursuant to Section 301 regarding the issues raised in this investigation," USTR said.