UNITED STATE President Joe Biden on Thursday prompted Congress to “crack down” on sea providers that have actually elevated delivery costs substantially and also assisted increase the price of products in the nation.
“One of the reasons prices have gone up is because a handful of companies who control the market have raised shipping prices by as much as 1,000%,” Biden claimed in Twitter message. “It’s outrageous—and I’m calling on Congress to crack down on them.”
“We’ve got to change this. I asked the Congress to pass a piece of legislation to remedy this. Democrats and Republicans voted for it. It’s over in the House of Representatives. I expect it to be voted on fairly shortly, and I expect it to pass. And I’m looking forward to signing it because we’ve got to bring down prices. The underlying elements of our economy are incredibly strong—stronger than any other nation in the world—But inflation is a problem. This won’t solve it all, but it will solve a big piece of it,” Biden claimed.
In March, the UNITED STATE Senate all passed the Ocean Shipping Reform Act, which would certainly reinforce the investigatory authority of the united state firm that looks after sea delivery and also increase openness of market methods.
If gone by Congress and also authorized right into legislation by the President, the regulation would certainly enable the Federal Maritime Commission (FMC) to start examinations of sea usual service provider’s service methods and also use enforcement procedures.
It would certainly additionally forbid sea providers from unreasonably decreasing possibilities for united state exports that would certainly be figured out by the FMC, which would certainly compose brand-new guidelines, and also it would certainly need sea usual providers to report to the FMC each schedule quarter “on total import/export tonnage” making port in the united state
