Trade
US-China Tensions Amplify Global Trade Shifts, Shipping CEO Says
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Political tensions between the US and China are contributing to lower container shipments between the world’s two largest economies, on top of an already-underway reshaping of global trade, according to a major shipping industry boss.
“We are seeing a de-leveraging of trade between the US and China,” Jeremy Nixon, chief executive officer of Ocean Network Express, said at the Capital Link Singapore Maritime Forum. “Many companies in the US are looking to reduce down the amount of imports they have got coming from China.”