Biden announces DOJ-FMC agreement on ocean freight companies | TheFencePost.com
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Biden announces DOJ-FMC agreement on ocean freight companies

President Biden on Monday announced an agreement between the Justice Department and the Federal Maritime Commission (FMC) that the White House said will “make sure that large ocean freight companies cannot take advantage of U.S. businesses and consumers.”

“Right now, three global alliances, made up entirely of foreign companies, control almost all of ocean freight shipping, giving them power to raise prices for American businesses and consumers, while threatening our national security and economic competitiveness,” the White House said.

Under the new initiative, the Justice Department will provide the FMC with the support of attorneys and economists from the Antitrust Division for enforcement of violations of the Shipping Act and related laws. The FMC will provide the Antitrust Division with support and maritime industry expertise for Sherman Act and Clayton Act enforcement actions.



The agencies’ announcement explains that competition in the maritime industry is integral to lowering prices, improving quality of service, and strengthening the resilience of supply chains.

“The need for reform to our ocean freight transportation system to improve fluidity and fairness, particularly for our agricultural exporters, was underscored last week in reports released by the Transportation and Agriculture departments as part of the administration’s six supply chain industrial base reports published on the one-year anniversary of the president’s supply chain executive order,” the White House said.




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