Canadian aluminum supplier Sinobec cites U.S.-China tariffs war as contributing factor to its insolvency - OffshoreAlert

The Trump administration's commercial war is the gout that makes the vase overflow for Sinobec. This Montreal distributor of aluminum products has seen its sales collapse due to customs duties. As a result, it finds itself in the shelter of its creditors and in the process of being sold.

According to Australian legal scholar Yuan Hongbing, citing a second-generation red source who was disciplined by Xi Jinping, Xi asked the entire Communist Party of China to review Mao Zedong's "On Protracted War" to deal with Trump's tariff war. At the same time, Cai Qi, member of the Politburo Standing Committee and director of the General Office of the CPC Central Committee, said at a meeting of the CPC's top leaders to assess the US-China ta…

Canadian aluminum supplier Sinobec cites U.S.-China tariffs war as contributing factor to its insolvency - OffshoreAlert

Although it has been having financial problems since at least 2023, Canadian aluminum supplier Sinobec Group cited the impact of the U.S.-China tariffs war on its U.S. operations as a contributing factor to its insolvency when filing for Chapter 15 bankruptcy recognition in Illinois on May 26th.