USTR exempts STS crane orders arriving by May, 2026 from 25% tariff
NewsUnder new rules from the US Trade Representative, ship-to-shore cranes ordered before May 14, 2024, and arriving by May 14, 2026, will avoid a 25% tariff on imports from China.
Hong Kong-listed PYI Corp will use some of the proceeds from a US$229.6M sale of its majority stake in the deepwater Yangkou port near the mouth of the Yangtze River to invest in a river container terminal in Suzhou.
Tom Lau Ko-yuen, managing director of the port and infrastructure company, said shareholders have approved the company’s plan to sell a 50.1% stake in Yangkou port to the government of Rudong County, where Yangkou port is located, leaving PYI with a 9.9% interest. PYI originally owned 75% of the port, but sold a 15% interest in December 2009 for US$45.64M.
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This complete item is approximately 200 words in length, and appeared in the April 2011 issue of WorldCargo News, on page 11. To access this issue download the PDF here.
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