According to a previous report by Bloomberg, a vessel carrying US soybeans is heading to northern China at full speed before the 25% tariff is imposed.
The cargo ship, called Peak Pegasus, is scheduled to arrive in Dalian on Friday. China will take tariff action on US products on the same day. People familiar with the matter said that if they arrived at their destination as planned, they should be able to clear customs before the tariffs take effect.
According to the information of Shipun.com, this ship should arrive at Hong Kong at 9:00 on July 6. But as of 13:00 on July 6, it is still on the way to Dalian.
It is reported that the value of soybeans contained in the ship is more than 150 million yuan. If unfortunately, additional tariffs will be imposed, the loss will exceed 10 million. As for the loss of the buyer or the loss of the seller, it depends on the payment method.
On June 15, 2018, the US government announced that it would impose a 25% tariff on approximately US$50 billion of goods imported from China, including tariffs on US$34 billion from July 6, 2018.
The Chinese government said it will impose tariffs on US$34 billion worth of US goods such as soybeans, automobiles and aircraft. The implementation time of the policy is also equal.
Unfortunately, Peak Pegasus failed to arrive at the destination customs before 12 o'clock on the 6th Beijing time.
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