Supply Chain Latest: US Shipping Law Won’t Do Much to Lower Cargo Costs - Bloomberg

2022-06-16 11:35:13 By : Ms. jessie jiang

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The bipartisan Ocean Shipping Reform Act is set to get President Joe Biden’s signature on Thursday, but it’s hardly clear whether the new law will have much of an effect on an inflationary force still bedeviling American companies – elevated container costs.

A day after the Federal Reserve raised interest rates by the most since 1994 to bring down soaring prices, Biden plans a White House ceremony with lawmakers and executives, Bloomberg’s Jordan Fabian reports here.