economy
U.S. Accuses Chinese Execs, Shipping Container Companies of Price Fixing During Pandemic
Updated on: May 19, 2026 / 4:52 PM EDT / CBS News
TL;DR
- Seven Chinese executives and four major shipping container manufacturers are charged in an antitrust case.
- The charges allege illegal price fixing during the COVID-19 pandemic.
- Prosecutors claim the companies exploited the crisis to raise shipping container prices for profit.
- The case impacts about $35 billion in global commerce.
- One defendant, Vick Nam Hing Ma, was apprehended in France and awaits extradition.