THENATIONALPULSE (Pulse Wires) - 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.
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 allege the group coordinated to limit production of standard shipping containers between late 2019 and early 2024, a move authorities say sharply inflated global transportation costs during the pandemic. DETAIL: Investigators say container prices doubled during the period while the…Open