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American cargo ships have been circling the sea for a whole month because of the US-China confrontation

American cargo ships have been circling the sea for a whole month because of the US-China confrontation 2

American cargo ships have been circling the sea for a whole month because of the US-China confrontation

The ship called Peak Pegasus is 229 meters long, weighs 43,000 tons and is owned by JP Morgan Asset Management.

Peak Pegasus had to run at full speed, hoping to clear customs before Beijing imposed retaliatory tariffs.

Peak Pegasus’s path over the past month.

Louis Dreyfus reportedly had to pay about $12,500 a day to continue chartering the ship.

Cargo experts say that if you take into account the risk of deciding on the wrong next step, it makes financial sense to just let the goods float at sea for months.

This means that buyers of Louis Dreyfus’ upcoming soybeans can negotiate a discount on these goods.

“The shipper clearly understands that he will lose 25% tax if he brings the goods into China and is weighing this against the next buyer asking for a strong discount.

China is turning to buying Brazilian soybeans.

China is ramping up imports before new US tariffs take effect, to increase reserves and reduce tariffs.

On Wednesday, China’s Ministry of Commerce said it would collect a 25% import tax on an additional $16 billion in US goods, starting from August 23.

Last week, China proposed imposing additional tariffs on $60 billion of US goods, after US President Donald Trump announced a plan to raise tariffs on $200 billion of Chinese goods from 10% to 25%.

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