U.S. accuses Chinese execs, shipping container companies of price fixing during pandemic

By

Updated on: May 19, 2026 / 4:52 PM EDT

/ CBS News

Add CBS News on Google

Seven Chinese executives and four of the largest shipping container manufacturers were criminally charged in an antitrust case alleging they engaged in illegal price fixing during the pandemic six years ago, federal prosecutors announced on Tuesday.The indictment, which was first reported by CBS News, marks the latest in a series of investigations by the Justice Department related to the COVID-19 pandemic, a topic that has long been of interest to President Trump and his allies."We are holding these Chinese bad actors accountable for exploiting the pandemic to fill their own coffers," said Associate Attorney General Stanley Woodward. He said the manufacturers "exploited the crisis and their market power to squeeze the supply chain for profit through coordinated agreements." As a result, their actions "dramatically raised the prices of shipping containers" in the lead-up to and during the pandemic, Woodward said.