
Foreign Trade
U.S. Alleges Chinese Shipping Container Giants Rigged Global Supply During COVID Crisis
The U.S. Department of Justice indicted four major Chinese shipping container manufacturers and seven executives for allegedly conspiring from late 2019 through early 2024 to restrict production and fix prices. The conspiracy roughly doubled container prices between 2019 and 2021, with CIMC profits surging from $19.8 million to $1.75 billion. Chinese manufacturers account for more than 90% of global container production.



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