U.S. Importers Stocked Up On Chinese Goods Ahead Of Tariffs, Says Shipper Maersk

www.oann.com | 1/24/2019 | Staff
kshama-s (Posted by) Level 3
DAVOS (Reuters) – Top U.S. importers stocked up heavily on Chinese goods in the fourth quarter before new import tariffs – part of an ongoing Sino-U.S. trade war – would take effect, the head of shipping giant A.P. Moller-Maersk said on Thursday.

“It was very clear that U.S. imports from China rose significantly in the fourth quarter, while exports to China fell. So quite the opposite of what the U.S. administration had wanted,” Maersk Chief Executive Soren Skou said in an interview.

Maersk - World - Container - Shipper - Vessels

Maersk is the world’s biggest container shipper with around 750 vessels.

Container shippers are currently in a peak season ahead of the Chinese Lunar New Year on Feb.5, but the spike in...
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