HONG KONG (AP) — China’s Commerce Ministry said Tuesday it was banning dealings by Chinese companies with five subsidiaries of South Korean shipbuilder Hanwha Ocean in the latest swipe by Beijing at U.S. President Donald Trump’s effort to rebuild the industry in America. The ministry also announced that it was investigating a probe by Washington into China’s growing dominance in …
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Developing | China-US shipping dispute escalates as Beijing sanctions South Korean giant subsidiaries
Beijing has announced sanctions against a US ally over its alleged role in constraining China’s maritime and shipbuilding industries – marking an escalation in tensions in the strategic sector. The move came as Washington enforced port fees targeting China-built or operated vessels on Tuesday, and follows a commitment made in a previous regulatory update. China placed five US-based subsidiaries of …
Read More »China targets five U.S. subsidiaries of South Korea’s Hanwha Ocean, sending shares down 8%
A hull section that will be sent to the final assembly base is loaded onto a semi-submersible vessel at Hanwha Marine Engineering (Shandong) Co LTD in Yantai, China, on September 16, 2024. Costfoto | Nurphoto | Getty Images China on Tuesday added five U.S. subsidiaries of South Korean shipbuilder Hanwha Ocean to its sanction list over their alleged involvement in …
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