Congress and Biden Probably Just Made the Shipping Problem Worse

Last summer, amid clogged ports and skyrocketing international shipping rates, irate U.S. exporters called on Congress to act. The result was the Ocean Shipping Reform Act of 2022 (OSRA), passed with bipartisan support in Congress and signed into law by President Joe Biden on June 16. The law is ostensibly aimed at reforming U.S. shipping law to provide fair treatment for American exporters. Unfortunately, the bill creates a mess of a law that does little to address current domestic regulations that exacerbated problems in the supply chain caused by the pandemic, which have yet to fully abate.

Pandemic-related restrictions caused Americans to largely remain at home in 2021, increasing online shopping activities. But as restrictions began to ease later in the year, Americans also increased demand outside of the home, resulting in an overall increase in demand throughout the U.S. economy. This surge shocked the supply chain, and the ports of Los Angeles and Long Beach—the largest funnels of U.S. imports—saw some of the worst bottlenecks in U.S. history and revealed myriad systemic policy problems affecting coastal shipping, including restrictive labor, immigration, and trade policies.

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Read the article here: https://reason.com/2022/06/17/congress-and-biden-probably-just-made-the-shipping-problem-worse/