This bill is the first major overhaul of federal regulations for the global shipping industry in over 30 years and was sponsored by US Representatives Dusty Johnson (R-S.D.) and John Garamendi (D-CA).
It will provide “critical” updates to the international maritime transportation system, which has been severely impacted by COVID-19.
As explained, the act aims to “ensure a more competitive global ocean shipping industry, protect American businesses and consumers from price gouging, and establish reciprocal trade opportunities to reduce the United States’ longstanding trade imbalance with export-driven countries like China”.
