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Biden’s orders seek to promote competition for rail and sea transport

Washington DC: To lower prices to consumers, President Joe Biden aims to reduce rail and sea transportation costs.

The White House will issue an executive order calling on U.S. transportation agencies to enforce anti-competitive acts or toll rules that are considered unfair in the rail and shipping industry to reduce consumer costs. Said there is.

The White House said in a statement that Biden would sign an “Executive Order to Promote Competition in the American Economy.” According to officials, the order is expected to include dozens of provisions to promote competition.

Officials said some of the president’s executive orders were directed to the Federal Maritime Commission and the Surface Transportation Board.

White House spokesman Jen Psaki said when discussing an executive order on Thursday, transportation costs had risen dramatically during the months of the pandemic.

The order urges the Surface Transportation Board to “make it easier for shippers to challenge higher rates when there is no competition between the two routes.”

The White House tells the Federal Maritime Commission to “take all possible steps to protect US exporters from the high costs imposed by sea carriers” and “to crack down on unreasonable and unreasonable charges.” To request.

Meanwhile, the Association of American Railroads said Thursday that “competition among freight carriers is still fierce,” and warned that some proposed reforms would “expose immense disadvantages” to railroads.

Notably, railroad stocks fell in the news as major carriers fell by more than 6%.

During the Covid pandemic, the cost of transporting goods has skyrocketed due to the increasing integration of the transport market.

A source told Reuters that the next executive order “encourages independent federal agencies that regulate these markets to take steps to promote competition, which can save US companies transportation costs. ..

The Executive Order also addresses workers’ non-compete obligations, license requirements, defense contracts, mobile phones, agriculture and antitrust enforcement.

Biden’s orders seek to promote competition for rail and sea transport

Source link Biden’s orders seek to promote competition for rail and sea transport

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