House lawmakers this week Introduced the Ocean Shipping Reform Act of 2021. The bipartisan legislation is the first major update of federal regulations for the global ocean shipping industry since 1998. The legislation would support American exports by establishing reciprocal trade opportunities to help reduce the United States’ longstanding trade imbalance with China and other countries.
South Dakota Republican Dusty Johnson and California Democrat John Garamendi introduced the legislation. The Congressmen serve together on the House Committee on Transportation and Infrastructure and announced their intention to pursue the legislation during a Subcommittee hearing on June 15, 2021. The bill seeks to establish reciprocal trade to promote U.S. exports as part of the Federal Maritime Commission’s mission and require ocean carriers to adhere to minimum service standards that meet the public interest, reflecting best practices in the global shipping industry, among other measures.
The bill has large agriculture and transportation industry support.