By David Shepardson
WASHINGTON (Reuters) – President Joe Biden on Thursday plans to signal laws to enhance oversight of ocean transport, which lawmakers say will assist curb inflation and ease export backlogs.
The bipartisan invoice handed the U.S. Home of Representatives on a 369-42 vote earlier this week.
The laws will increase the investigatory authority of the Federal Maritime Fee (FMC (NYSE:)), the U.S. company that oversees ocean transport, and enhance transparency of business practices.
The invoice will permit FMC to launch probes of the enterprise practices of ocean frequent carriers, a time period that broadly refers to cargo vessels working on the excessive seas. The FMC will even be capable of apply enforcement measures, require ocean frequent carriers to report back to the FMC “complete import/export tonnage” every calendar quarter and would bar ocean carriers from unreasonably declining alternatives for U.S. exports beneath new guidelines to be decided by the FMC.
The World Transport Council mentioned it would work with FMC to implement the invoice “in a manner that may decrease disruption in our provide chain.”
It added “ocean carriers proceed to maneuver report volumes of cargo and have invested closely in new capability – America must make the identical dedication and spend money on its landside logistics infrastructure.”
The White Home mentioned the invoice will “assist decrease prices for American retailers, farmers and shoppers” and mentioned it would “make progress decreasing prices for households and making certain truthful remedy for American companies—together with farmers and ranchers.”
Congress has few instruments to fight inflation, which hit 8.6% within the 12 months via Might, in accordance with the U.S. shopper value index. Past the transport invoice, Democrats are additionally pushing measures to decrease prescription drug costs to attempt to tackle the problem.
Imports within the nation’s main retail container ports are anticipated to achieve near-record quantity in June as retailers search to fulfill shopper demand and defend themselves from disruptions in West Coast ports, the Nationwide Retail Federation mentioned in an announcement final week.
