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Friday, February 28, 2020
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US-China deal could boost port of Hong Kong

The port of Hong Kong, once the world’s busiest, could get a boost after the phase one trade deal between the U.S. and China is signed, according to the managing director of Modern Terminals.

The ambiguity brought on by the trade dispute between China and the U.S. in the last two years has created a lot of uncertainty for businesses, particularly for the port business, said Peter Levesque of Modern Terminals — the second largest container terminal operator in Hong Kong. He added that he hopes both sides can get this initial deal implemented.

“It’s almost impossible to put a game plan together when the goal post is moving almost daily,” Levesque told CNBC’s “Squawk Box” on Wednesday. “So we hope that through phase one agreement that we’ll be able to get a lot more certainty around what the future looks like. We’ll be able to plan better and we’ll be able to bring more volume back to Hong Kong.”

Read more on CNBC

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