On June 9, president Biden tweeted: “One of the reasons prices have gone up is because a handful of companies who control the market have raised shipping prices by as much as 1,000%. It’s outrageous – and I’m calling on Congress to crack down on them.” The first shot has been fired, and the language is strengthening.
A spokesperson for Senator Klobuchar, who is working on a bill, added: “The ocean shipping companies need to be aware that their day is coming, that their ability to manipulate the market – to purposefully, for their own economic benefit, for their profitability, to really screw American exporters – is over, and that I’m not backing away from this issue.”
Read more in an article from The Loadstar.