Giant shipload of soya beans circles off China, victim of trade war with US
by Rob Davies and Larry Elliott from on (#3WE3Y)
Peak Pegasus became unlikely hit on Chinese social media as it tried to beat tariff deadline
A shipment of soya beans worth more than $20m (15.5m) has been bobbing aimlessly in the Pacific Ocean for a month, a casualty of the escalating trade war between China and the US.
Lingering uncertainty over the cargo's fate offered a timely reminder of the fallout from a dispute that intensified on Wednesday, as the US president, Donald Trump, unveiled a second round of tariffs on $16bn of Chinese goods, prompting Beijing to respond in kind.
Related: China hits back against latest US tariffs; pound hit by Brexit worries - business live
Continue reading...