This US cargo ship is racing to China to beat a new tariff on the soybeans

Soybeans have been a key battleground in escalating trade tensions between the two countries as China is the world's biggest importer and America's largest customer in trade

A ship carrying US soybeans is steaming toward northern China in a race to beat a 25 per cent tariff. Peak Pegasus is expected to arrive in Dalian on Friday, the same day that China is scheduled to impose tariffs on imports from the US, according to shipping data compiled by Bloomberg and a person familiar with the matter. 
 

If it arrives as scheduled, it should be able to clear customs before the tariffs are imposed, according to the source. Ship-tracking data currently shows it arriving at about 5 pm local time (2.30 pm IST).

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