US probing if China firms cut output of containers before pandemic, says CBS
- On Tuesday, The Justice Department unsealed an indictment charging four Chinese shipping container manufacturers and seven executives with conspiring to restrict output and fix prices between November 2019 and January 2024.
- Manufacturers allegedly coordinated to restrict production hours in late 2019, creating artificial shortages that enabled companies to profit significantly while Americans faced higher costs, Acting Assistant Attorney General Omeed Assefi stated.
- Executive Vick Ma was arrested in France as part of Operation Midnight, with the scheme involving commerce exceeding $35 billion and one defendant's profits jumping nearly 100-fold, from about $20 million in 2019 to about $1.75 billion in 2021.
- President Donald Trump administration officials kept the indictment under seal until after his Beijing summit to avoid disrupting diplomatic discussions on maintaining stable economic and trade ties between The United States and China.
- A 2025 report from the Office of the Trade Representative noted China has targeted maritime and logistics sectors for dominance for nearly three decades, positioning these antitrust charges as a milestone in international enforcement.
42 Articles
42 Articles
DOJ Indicts Chinese Executive Over Global Price-Fixing Scheme.
The Department of Justice has charged seven Chinese executives and four major shipping container manufacturers with conspiring to inflate global shipping costs during the COVID-19 pandemic.PULSE POINTS WHAT HAPPENED: The Department of Justice (DOJ) has charged seven Chinese business executives along with four major global shipping container companies in a sweeping antitrust case tied to COVID-19 era supply chain crisis. Federal prosecutors alleg…
The arrest in France of a Chinese senior executive uncovered an alleged global scheme of price manipulation in the shipping container industry, accused of doubling the costs of freight transport and affecting the consumer pocket during the pandemic.
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DOJ Accuses Chinese Shipping Container Giants of Pandemic-Era Price Fixing Scheme
Federal prosecutors allege four major Chinese container manufacturers and seven executives coordinated production cuts during the COVID-19 pandemic, driving up shipping container prices and generating ... The post DOJ Accuses Chinese Shipping Container Giants of Pandemic-Era Price Fixing Scheme first appeared on [your]NEWS.
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