Ocean Shipping Reform Act Could Bring Relief

July 5, 2022

The new Ocean Shipping Reform Act could provide some much-needed relief for tire dealers who sell products that are made overseas, as well as U.S.-based exporters.

The law, which was signed on June 16 by President Joe Biden, is designed to "crack down on skyrocketing international ocean shipping costs and ease supply chain backlogs," according to a recent statement issued by the U.S. Senate.

It also is intended to provide the Federal Maritime Commission with "the tools it needs for effective oversight of international ocean carriers. These oversight and enforcement tools will help the FMC eliminate unfair charges," plus other practices that are "harming American businesses and consumers," including exporters.

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