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From Nov. 10, the U.S. will pause measures designed to combat China’s shipping dominance, the White House said. Meanwhile, Beijing said it would suspend the countermeasures it imposed.

International shipping has been roiled by retaliatory port charges levied by the U.S. and China on each others’ ships in recent months, a move that pushed up freight costs.

Beijing and Washington have sparred over shipping, with China introducing a hefty extra fee on vessels known to have American links, following a similar U.S. move.

The Chinese fees, which were in a response to a similar move by Washington, have upended Asian oil trading as shippers and traders assess their exposure to charges.

Cosco Shipping, already expected to report weaker third-quarter earnings, could face an additional $1.5 billion to $2.1 billion in fees in 2026.

China announced Oct. 10 that it would impose fees on U.S. ships in retaliation for similar measures due to be imposed by the Trump administration Oct. 14.

They would take effect on Oct. 14, the same day that the United States is due to start imposing port fees on Chinese vessels.

The U.S. is set to start charging large Chinese vessels millions of dollars when they call at American ports from Oct. 14.

U.S. port fees on China-built vessels are due to commence Oct. 14.

Mario Cordero, who has served as CEO since May 2017 and oversees about 600 workers, has guided  one of the busiest seaports in the nation through an era of record-breaking container volume.