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Watch live: This ship is racing against the clock to beat the US-China trade war

A cargo truck drives amid stacked shipping containers at the Yangshan port in Shanghai, Thursday, March 29, 2018. China's Commerce Ministry called on Washington on Thursday to discard planned tariffs it warned might set off a chain reaction that could disrupt global trade and said Beijing will "fight to the end". (AP Photo)

It’s the final countdown: The trade war with China is on—or it will be, in a matter of hours. At 00:01 am EST on July 6, Donald Trump’s list of tariffs on Chinese imports will take effect.

China has promised to retaliate quickly with its own list of tariffs. But officials have also said that it will not strike first, despite rumors. That means China’s tariffs on US products could start at noon, local time, or even with a delay.

A few hours of extra delay could make a lot of difference to businesses hoping to complete deliveries before import taxes spike. Among them, Bloomberg reports, is Peak Pegasus, a cargo ship that is currently racing across the Yellow Sea to drop off its load of soy beans before they become 25% more expensive.

Peak Pegasus is currently scheduled to reach the port of Dalian, China, at 1:00 pm—59 minutes after US tariffs will start. At time of writing, the ship was making its way from Busan in South Korea to Dalian, in the Liaoning province.

You can watch its agonizing progress live here.

Correction: An earlier version of this item misstated the current month as June instead of July.



Source: QZ

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