U.S. Investigates Whether Chinese Firms Cut Shipping Container Output Before COVID: Report

Source: International Business Times

The Justice Department probe focuses on a small group of Chinese firms that allegedly slowed production in late 2019 by limiting employee work hours to reduce global supply and push prices higher. Reuters Federal authorities are reportedly investigating whether Chinese companies deliberately restricted production of shipping containers just before the COVID-19 pandemic, a move that could have worsened one of the most painful supply chain shocks in recent history. According to an exclusive report from CBS News, the probe focuses on a small group of Chinese firms that dominate the global manufacturing of unrefrigerated shipping containers.