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U.S. House passes ocean shipping bill to allay export backlogs

On Monday, the U.S. House of Representatives approved legislation to improve oversight of ocean shipping, which supporters say will help curb inflation and ease export backlogs. The bill was approved 369-42 and will head to the White House for president Biden's signature. Biden said in a statement he looked forward to signing it into law.

The bill would boost the investigatory authority of the Federal Maritime Commission (FMC), the U.S. agency that oversees ocean shipping, and increase industry transparency.

AFBF applauds final passage of the Act
American Farm Bureau Federation President Zippy Duvall commented today on final congressional passage of the Ocean Shipping Reform Act saying: “AFBF appreciates lawmakers for working together to pass the Ocean Shipping Reform Act. Record-high shipping costs and delayed access to containers have worsened supply chain issues and limited exports at a time when the world is calling on America’s farmers to meet growing demand.

"Some estimates suggest we’ve lost out on more than $25 billion in agricultural exports over the past six months because of ocean shipping constraints. That’s unacceptable. Limited trade has also made it more difficult to import supplies like fertilizer, which increases costs to farmers and ultimately hurts all families through higher grocery bills."

“I was pleased to team up with President Biden to urge passage and look forward to him quickly signing the Ocean Shipping Reform Act into law so farmers and ranchers can continue to meet the needs of families in America and overseas.”


For more information: reuters.com


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