TOKYO/HONG KONG -- The opening of a 90-day trade window after the world's two largest economies slashed import tariffs is pushing up trans-Pacific freight rates and the share prices of regional shipping companies as American merchants rush to stock up on Chinese products.
Chinese exports to the U.S. plunged by 21% in April from a year ago, as American customers cancelled orders or asked their Chinese suppliers to pause on loading goods. Now, a sudden cooling of the tariff war has reignited hope among some Chinese exporters that they can finally move products stuck in warehouses.
