Ocean Shipping Reform Act 2022
Source: Supply Chain Dive

President Joe Biden has asked the
Nine top ocean carriers to reduce their shipping costs

Biden called on the congress to pass a legislation on
Ocean Shipping Reform Act 2022
As part of addressing consumer price inflation

CEO of Tractor Supply Company told Biden
The rise in Container prices skyrocketed his costs
From $3,500 per container in 2020 to
Upwards of $20,000-$25,000 last year

But Biden’s proposal will empower the FMC to
Provide pathway to shippers in seeking financial relief
When hit with unreasonable fines

Biden’s administration has also taken steps to
Boost the number of truck drivers
Increase efforts to expedite CDLs
Encourage new apprenticeship programs

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