China sanctioned the US units of a South Korean shipping giant and threatened further retaliatory measures on the industry, the latest in a series of tit-for-tat moves as Beijing and Washington jockey for leverage before expected trade talks.
The sanctions, which prohibit people or organizations in China from transacting with US units of
Hanwha Ocean closed down 6.2%, while shares of Chinese shipbuilders rallied.
China’s moves escalate a long-standing dispute with the ...