Biden’s plan for addressing high shipping prices is bogus

Posted on AllSides June 17th, 2022
From The Center
REUTERS/EVELYN HOCKSTEIN
ANALYSIS

US president Joe Biden has signed into law a bipartisan bill designed to lower ocean shipping costs and reduce inflation.

The new law seeks to bring down shipping costs by forcing ships that drop off cargo at US ports to fill their remaining cargo space with US exports, instead of racing back to Asia or Europe with empty containers onboard. It also directs the Federal Maritime Commission to investigate the late fees shipping lines charge their customers when cargo gets stuck in gridlocked ports.

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