Wanting to crack down on unfair shipping prices levied by foreign-owned ocean carriers, strengthen a weakened supply chain and reduce costs for consumers, President Biden recently signed the Ocean Shipping Reform Act into law.
According to the U.S. Senate Committee on Commerce, Science, and Transportation, the law addresses the “skyrocketing” international ocean shipping costs and supply chain backlogs that are raising prices for consumers, and making it harder for domestic farmers and exporters to get their goods to the global market.
