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Hong Kong shipping group OOIL wary of a Trump trade war

Beijing regulators yet to sign off on Cosco's buyout deal

A container ship operated by Orient Overseas Container Line (OOCL).

HONG KONG -- Orient Overseas (International) Ltd, the Hong Kong-based shipping company that is awaiting approval for a takeover by Chinese state-owned Cosco Shipping Holdings, is upbeat on the trade recovery, but concerned about the potential trade war springing from the latest protectionist moves by U.S. President Donald Trump.

In response to a question about the potential impact of Trump's plan to introduce tariffs on imports to the U.S. of steel and aluminum -- an apparent attack on Chinese exporters -- OOIL Chief Financial Officer Alan Tung Lieh-sing said: "We will have to watch closely the next steps taken by different countries." He was speaking at a press conference as the company released financial results for the year ending December 2017.

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