Shipping companies gain as US, China reach deal to cut tariffs

ReutersMay 12, 2025 11:12 AM

Shares of U.S. shipping companies rise in premarket trade after Washington and Beijing agree to temporarily slash reciprocal tariffs

The U.S. will cut extra tariffs on China to 30% from 145%, while Chinese duties on U.S. imports will fall to 10% from 125%; measures effective for 90 days

Shares of Navios Maritime Partners NMM.N climb 4.71% and Golden Ocean Group GOGL.O rises 4.8%

Shares of oil tanker cos Teekay Tankers TNK.N up 3.8%, International Seaways INSW.N rises 3.6% and DHT DHT.N gains 1.4%

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