Notice of Modification of Section 301 Action: China's Targeting of the Maritime, Logistics, and Shipbuilding Sectors for Dominance

USTR noticeTariff cut or exemptionFederal Register 25/11/13Open the original

Summary

At the President's direction, USTR suspends for one year, from November 10, 2025, through November 9, 2026, the Section 301 actions on China's targeting of the maritime, logistics and shipbuilding sectors, following the trade deal between President Trump and President Xi Jinping announced on November 1, 2025.

By industry

Shipbuilding & MASGA1 trading day−1.3%p15 stocks5 trading days−1.0%p15 stocks20 trading days−0.1%p15 stocks
“Notice of Modification of Section 301 Action: China's Targeting of the Maritime, Logistics, and Shipbuilding Sectors for Dominance”
Tariffs & Reshoring1 trading day−0.3%p15 stocks5 trading days−0.4%p15 stocks20 trading days+10.5%p15 stocks
“imposition of duties on ship-to-shore cranes and on certain cargo handling equipment of China”

Day by day after the announcement

Shipbuilding & MASGA stocks and the S&P 500 after the announcement, cumulative %
Day	Shipbuilding & MASGA stocks	S&P 500
25/11/12	0.0%	0.0%
25/11/13	−2.8%	−1.5%
25/11/14	−2.0%	−1.5%
25/11/17	−3.2%	−2.5%
25/11/18	−3.5%	−3.4%
25/11/19	−3.4%	−2.4%
25/11/20	−4.7%	−4.5%
25/11/21	−4.4%	−3.4%
25/11/24	−3.7%	−2.0%
25/11/25	−2.7%	−1.1%
25/11/26	−2.5%	−0.4%
25/11/28	−2.1%	+0.0%
25/12/01	−4.0%	−0.4%
25/12/02	−3.6%	−0.2%
25/12/03	−2.5%	+0.1%
25/12/04	−1.2%	+0.2%
25/12/05	−1.9%	+0.4%
25/12/08	−1.3%	+0.2%
25/12/09	−1.4%	−0.0%
25/12/10	+0.1%	+0.6%
25/12/11	+0.8%	+1.0%

Korean stocks in these industries

Hanwha Ocean 042660
HD Hyundai Heavy Industries 329180
HD Korea Shipbuilding & Offshore Engineering 009540
Samsung Heavy Industries 010140
Hyundai Steel 004020
POSCO Holdings 005490
SeAH Steel Holdings 003030

Trades in these industries around the announcement

Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.

Glencore International10% Owner
SellCentury Aluminum
Sell
Century Aluminum
CENX
$272.3M
9,000,000 sh
$272.3M
Filed 25/11/13
Traded 25/11/10
John R. McPhersonDirector
BuyCommercial Metals
Buy
Commercial Metals
CMC
$99.5K
1,712 sh
$99.5K
Filed 25/10/21
Traded 25/10/20
Phillip Michael HardestySVP
BuySunCoke Energy
Buy
SunCoke Energy
SXC
$60.9K
9,168 sh
$60.9K
Filed 25/11/12
Traded 25/11/07
Ralph M. Della Ratta Jr.Director
BuySunCoke Energy
Buy
SunCoke Energy
SXC
$50K
7,288 sh
$50K
Filed 25/11/07
Traded 25/11/06
Neil G. Mitchill Jr.EVP, CFO
SellRTX
Sell
RTX
RTX
$873.5K
4,849 sh
$873.5K
Filed 25/10/28
Traded 25/10/24
Christopher T. CalioChairman, President and CEO
SellRTX
Sell
RTX
RTX
$858.3K
4,813 sh
$858.3K
Filed 25/10/29
Traded 25/10/27
Phillip Michael HardestySVP
BuySunCoke Energy
Buy
SunCoke Energy
SXC
$13.5K
2,032 sh
$13.5K
Filed 25/11/12
Traded 25/11/07
David W. GrzebinskiCEO
SellKirby
Sell
Kirby
KEX
$3.2M
29,451 sh
$3.2M
Filed 25/11/24
Traded 25/11/21
Phillip Michael HardestySVP
BuySunCoke Energy
Buy
SunCoke Energy
SXC
$5,304
800 sh
$5,304
Filed 25/11/12
Traded 25/11/07
John R. McPhersonDirector
BuyCommercial Metals
Buy
Commercial Metals
CMC
$587
10 sh
$587
Filed 25/10/21
Traded 25/10/20
Frank A. St JohnCOO
SellLockheed Martin
Sell
Lockheed Martin
LMT
$2.3M
4,703 sh
$2.3M
Filed 25/10/27
Traded 25/10/23
Frank A. St JohnCOO
SellLockheed Martin
Sell
Lockheed Martin
LMT
$1.5M
3,020 sh
$1.5M
Filed 25/10/27
Traded 25/10/23
Karla R. LewisPresident, CEO
SellReliance
Sell
Reliance
RS
$1.1M
3,775 sh
$1.1M
Filed 25/12/02
Traded 25/12/01
Karla R. LewisPresident, CEO
SellReliance
Sell
Reliance
RS
$577.4K
2,034 sh
$577.4K
Filed 25/12/02
Traded 25/12/01
Tracy A. AtkinsonDirector
SellRTX
Sell
RTX
RTX
$500.9K
2,800 sh
$500.9K
Filed 25/10/28
Traded 25/10/24
Christopher D. KastnerDirector, President & CEO
Sell10b5-1 planHuntington Ingalls Industries
Sell10b5-1 plan
Huntington Ingalls Industries
HII
$4.8M
15,000 sh
$4.8M
Filed 25/11/13
Traded 25/11/12
Christopher E. KubasikChair and CEO
Sell10b5-1 planL3HARRIS Technologies
Sell10b5-1 plan
L3HARRIS Technologies
LHX
$4.3M
14,171 sh
$4.3M
Filed 25/11/14
Traded 25/11/13
Brian J. MalloyPresident and COO
SellCarpenter Technology
Sell
Carpenter Technology
CRS
$3.6M
11,894 sh
$3.6M
Filed 25/12/11
Traded 25/12/10
K. Christopher FarkasVice President and CFO
Sell10b5-1 planCurtiss Wright
Sell10b5-1 plan
Curtiss Wright
CW
$2.9M
5,047 sh
$2.9M
Filed 25/11/13
Traded 25/11/11
Brian J. MalloyPresident and COO
SellCarpenter Technology
Sell
Carpenter Technology
CRS
$2.9M
9,473 sh
$2.9M
Filed 25/12/11
Traded 25/12/10