Biden says new shipping costs law may help tame inflation

By WILL WEISSERT
Associated Press

WASHINGTON (AP) — President Joe Biden signed legislation Thursday meant to lower the cost of shipping goods across oceans. It’s a move the White House says will help ease logistical costs for retailers that have remained high since the start of the coronavirus pandemic and helped fuel record inflation. The Ocean Shipping Reform Act passed unanimously by the Senate via voice vote in March after winning bipartisan House support. It empowers the Federal Maritime Commission to investigate late fees charged by carriers while prohibiting ocean carriers and marine terminals from refusing to fill available cargo space.

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