Hopefully, Japan will meet the commitment it made earlier in the year.

If they don't come up with something, the fines will go into effect at 12:01 a.m. Thursday morning.

At this time, sanctions are on track to become effective on Sept. 4.

Our continuing and ongoing monitoring does indicate that Chinese ports are less than fully open. We are continuing to assess what's going on over there and its impact on U.S. carriers and commerce?. The fundamental problem appears to be an access issue -- U.S. carriers can't do things there that their carriers can do here.

They missed the deadline, they missed their chance.

I'm not inclined to totally forgive the debt. I'm not even inclined to compromise. It's just clear that the Japanese government did not meet the commitment it made last April. It's unfortunate, and this is the result.