China - May 23, 2025 Storyline: Shipping demand recovers amid China-US tariff truce [Voice_over] News of an agreement between China and the U.S. to pause steep tariffs has jumpstarted the shipping industry in Shanghai. According to data from Vizion, a container tracking company, bookings for container transport from China to the U.S. have gone up by a staggering 277 percent since the truce was announced. For shipping companies like Shanghai Pegasus Logistics, orders have been pouring in. [Sound_bite] Chen Xiang, general manager, Shanghai Pegasus Logistics: "Currently, the price has basically increased by about 500 U.S. dollars per container. As demand has surged, there will definitely be a shortage of supply. We must book space in advance, to confirm the loading time and customs declaration time." [Voice_over] In addition to communicating with peers in the industry, the company is paying close attention to their clients' shipping needs. A business manager at the company said once clients place an order, shipments could resume in about 10 days. [Sound_bite] Shi Lijun, business specialist, Shanghai Pegasus Logistics: "Factories and foreign trade companies have just learned about the news [on tariff reductions]. They need to schedule their shipments based on the backlog of orders they have received. If they place an order three to four days later, their shipments could resume around the end of next week." [Voice_over] Trade tensions between the world’s two largest economies created massive delays in the global shipping industry. Previous tariffs of 145 percent on Chinese goods and 125 percent on U.S. goods have been paused for 90 days to 30 percent and 10 percent respectively. [Restrictions : No access Chinese mainland]