U.S. administration improves supply network to secure fair competition due to rising shipping costs

The White House said on the 17th that the stagnant US supply chain has improved, while ensuring fair competition in the global shipping industry, which is dominated by three shipping alliances. He stated that further efforts are needed to do so.

The White House’s National Economic Council (NEC) blogs that the independent Federal Maritime Commission (FMC) is already investigating excess shipping charges, but if it leads to unreasonable costs or delays, shipping He mentioned that other means should be considered, such as challenging the alliance.

He also called on Congress to reform the FMC to strengthen its oversight of the global shipping sector and increase the transparency of charges charged by shipping companies.

According to the latest data, shipping continues to improve, with record high numbers of containers imported at Los Angeles and Long Beach ports in California from January to October, and retailer inventory from 2020 to 4 %gain. The in-store inventory rate is 90%, which is 1% below the pre-epidemic level of the new coronavirus.

Meanwhile, the White House points out that further efforts are needed to improve exports from the United States. Due to rising shipping costs, it is more profitable for shipping companies to leave the container empty than to wait for the loaded container to arrive at the port.

The blog said the issue cast doubt on the fair treatment of US importers and exporters in the shipping industry, with nine shipping alliance companies controlling 80% of the world’s shipping. He pointed out that it has increased significantly from only 29% in 2011.

Christopher Pacheco has worked as financial analyst until his retirement. He is a well-known research director and portfolio manager for more than 5 years. After many years in the market, he dedicated all his time to write articles highlighting different financial problems.

Christopher Pacheco holds a postgraduate degree in Software Engineering from Canada. ‘The stock market is filled with individuals who know the price of everything, but the value of nothing.’ Christopher is a share market expert, being personally invested for over 6 years. He believes the most valuable nugget of wisdom for new investors is a quote from Phillip Fisher. He has been writing his entire life, and while he has made a career of business and finance reporting, he still enjoys writing short stories and poetry.

Address: 25176 10th Street, Greenfield, CA 93927, USA

Email: [email protected]

Zip code: 93927

Contact # 831-385-8150

Leave a Reply

Your email address will not be published. Required fields are marked *