US Ship With Soybeans Raced the Clock Toward China

But 'Peak Pegasus' appears to have fallen just short, as tariffs go into effect
By John Johnson,  Newser Staff
Posted Jul 6, 2018 1:40 PM CDT

(Newser) – Trade disputes generally don't lend themselves to exciting visuals, but the new one between the US and China might be an exception. As the deadline neared for new penalties to take effect, a ship laden with US soybeans raced toward the Chinese port of Dalian, capturing the attention of users on the Chinese social media site Weibo, reports Reuters. "You are no ordinary soybean!" one user wrote in regard to the ship Peak Pegasus, which set out from Seattle last month. "Good luck bro!" wrote another. However, Reuters reports that the Pegasus arrived just a smidge late to beat the deadline, and Bloomberg also reports that the ship "looks to have lost its race"—unless perhaps Chinese officials were feeling generous. Related coverage:

  • Soybeans? They just happen to be the top American agricultural export to China, as an interactive graphic at Reuters reveals. China took in about $12 billion worth last year. US farmers' pain will be Brazilian farmers' gain, reports Fortune.
  • One huge factor: CNBC reports that a major issue behind this trade war is 5G—and whether the US or China will be the nation to dominate the next generation of the mobile internet. This is about far more than faster download times, however. "It is being touted as a technology that could support the next generation of infrastructure, from the billions of internet-connected devices expected to come online in the next few years, to smart cities and driverless cars."

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