$5B Deal in Philly: Why China Just Backed Off US Hanwha Subsidiaries

WooGlobe

China has just suspended sanctions on five US subsidiaries of South Korea’s shipbuilding giant, Hanwha Ocean. This surprising move follows the US decision to halt port fees on Chinese-operated ships — a gesture seen as part of a fragile truce in the ongoing trade war between Washington and Beijing. With a $5 billion investment in Philly Shipyard now in play, this could mark a turning point in global trade dynamics — or just a temporary pause. Here's what you need to know. WooGlobe Ref : WGA450164 For licensing and to use this video, please email licensing@wooglobe.com

Transcript

00:00China just hit pause on a major trade punishment.

00:03And it all ties back to a shipbuilding giant and a high-stakes global rivalry.

00:07Beijing announced its suspending sanctions against five U.S. units of South Korean shipbuilder Hanwha Ocean.

00:13Why? Because the U.S. just stopped charging port fees on Chinese-built ships.

00:18It's the latest twist in a rocky trade war between the world's two biggest economies.

00:22But this move signals a fragile attempt at peace after recent talks between Xi Jinping and Donald Trump in South Korea.

00:29Just last month, China slapped these U.S. Hanwha subsidiaries with sanctions.

00:34The reason? They supported a U.S. investigation accusing China of dominating shipbuilding unfairly.

00:40Now, with a $5 billion Hanwha investment in Philly shipyard on the table.

00:44And a year-long suspension of sanctions in place.

00:47The world is watching closely. Is this a real thaw or just a timeout?

00:51Only time will tell if the waves of this trade war are calming or just shifting.

Category

Transcript

Be the first to comment

Recommended