News

We provide the latest news
from the world of economics and finance

Back
14 October
A new front opens in the Sino-American trade war – this time at sea.
China dominates world shipping, with over 50% of global cargo capacity, and shipbuilding with over 50% of the order book for new vessels.
China dominates world shipping, with over 50% of global cargo capacity, and shipbuilding with over 50% of the order book for new vessels. Photo: Getty Images/iStockphoto

Friction is mounting in the Sino-American trade war. China has introduced a new dimension to the wide-ranging dispute by imposing sanctions on five U.S. subsidiaries of South Korea’s Hanwha Ocean shipbuilding company.

China’s Commerce Ministry on Tuesday accused the subsidiaries of “assisting and supporting the U.S. government probes and measures against Chinese maritime, shipbuilding and logistics sectors.”