Shipping equities took a tumble today amid latest blows between US and China in an escalating trade war that has gone on since early 2018.
Beijing announced 5% and 10% tariffs on $75bn in US imports on 1 September and 15 December, reacting to US' plan for a 25% tax on $300bn in Chinese goods on those dates.
President Donald Trump responded to China's latest jab by demanding US companies stop trading with China and saying he will up that 25% tariff to 30% on 1 October.
