This week, the U.S. House of Representatives passed the U.S. Competition Act of 2022, known in its entirety as the U.S. Manufacturing Opportunity and Technological Excellence and Economic Power Act of 2022.
The main content of the bill is that it will create the "American Chip Fund", allocate $52 billion to encourage private companies to invest in semiconductor production, etc.; authorize $45 billion to improve the U.S. supply chain, strengthen manufacturing,Increase freight forwarding from China to the US, prevent shortages of key products, and ensure more domestic manufacturing in the United States. ; promote U.S. scientific research and technological innovation, and ensure U.S. global competitiveness and leadership through economic development and international alliances.
The bill was introduced in the Senate also this week, after the U.S. shipping law reform passed the House of Representatives in December.
Key components of the 2021 shipping law reforms include:
Require shipping companies to demonstrate “detention and demurrage” in compliance with federal regulations or face penalties;
Transfer the burden of proof of the reasonableness of the "detention and demurrage" fee from the billed party to the shipping company;
Prohibition of shipping companies from unreasonably reducing transportation opportunities for U.S. exports, as determined by FMC in new regulation rulemaking;
Require ocean common carriers to report to FMC each calendar quarter the gross tonnage and TEU volume (loaded/unloaded) of each vessel calling at the U.S.;
Authorize FMC to initiate, on its own, investigations into the commercial practices of ocean common carriers and to take enforcement action as appropriate;
Authority to establish a new registered shipping exchange for FMC;
Allow third parties to participate in anti-competitive injury legal cases brought by FMC against ocean carriers;
and grant monetary damages to third parties who prevail in these legal cases, with additional financial penalties to deter anticompetitive behavior
The bill has strong support from the president and CEO of the American Apparel and Footwear Association.
“The shipping crisis has resulted in international shipping companies looking to take advantage of the situation to pass on exorbitant costs to U.S. companies.” “The maritime reform bill addresses the urgent need for enhanced enforcement by the Federal Maritime Commission, and the apparel and footwear industry strongly encourages the Senate to swiftly pass the bill. Bill so that President Biden can sign it into law and end these predatory practices.”
● What Services Are Mainly Provided by China Freight ForwardersAug 05,2022
● What Is Causing Global Shipping Delays?Sep 06,2022
● What is the meaning of double clearing by sea from China to the USA?Sep 06,2022
● US suspends 26 flights operated by Chinese carriersAug 29,2022
● What Is EXW Shipping？Aug 26,2022