A U.S. Cargo Ship Is Racing to China to Beat the Clock on Tariffs
- U.S. to slap tariffs on $34 billion of Chinese goods on July 6
- China will respond in kind, targets imports of U.S. farm goods
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A ship carrying U.S. soybeans is steaming toward northern China in a race to beat a 25 percent tariff.
Peak Pegasus is expected to arrive in Dalian on Friday, the same day that China is scheduled to impose tariffs on imports from the U.S., according to shipping data compiled by Bloomberg and a person familiar with the matter. If it arrives as scheduled, it should be able to clear customs before the tariffs are imposed, according to the person, who asked not to be identified because they’re not authorized to speak to the media. Ship-tracking data currently shows it arriving at about 5 p.m. local time.