The Ocean Shipping Reform Act allows for more enforcement of rising fees. But shippers say the law isn’t a “silver bullet.”
President Joe Biden signed the Ocean Shipping Reform Act of 2022 into law on Thursday, promising sweeping changes to the ocean shipping industry after more than two years of port congestion, delays and rising costs.
Biden just signed a law to lower shipping costs. Will it work?
Short-staffed and underfunded.
This New Import Law Will Hurt U.S. Consumers
For small importers it will be impossible to do the above. Only big companies [Congress’ gift to Big Corporations] can afford to research and provide all that data and to take the risk of importing products that may get confiscated at the border. They will of course ask their customers to pay for all that.
Previously:
US Crackdown on Forced Labor in China Risks Further Supply Chaos
MoA brings up some things that I hadn’t.
The Neocon’s Dream – Decolonize Russia, Re-colonize China
Related:
Decolonization; Partioning; I call it Balkanization. 🤷🏼♀️
Corporate ‘Self-Sanctioning’ of Russia Has US Fearing Economic Blowback
But some Biden administration officials are now privately expressing concern that rather than dissuading the Kremlin as intended, the penalties are instead exacerbating inflation, worsening food insecurity and punishing ordinary Russians [they don’t care about the people, the true purpose of sanctions is to encourage people to overthrow their leader] more than Putin or his allies.
…
When the
invasion[special military operation] began, the Biden administration believed that if penalties exempted food and energy [what exemptions?!], the impact on inflation at home would be minimal. Since then, energy and food have become key drivers of the highest US inflation rates in 40 years, a huge political liability for President Joe Biden and the Democratic party heading into November’s mid-term elections [they only care about winning the midterms].…
There’s no sign that administration officials feel their sanctions policy was a mistake or that they want to dial back the pressure. If anything, officials have said a key US goal is to ensure Russia can’t do to other nations what it has done in Ukraine [then tell Puppet Zelensky to negotiate instead of flooding Ukraine with weapons!!].
…
The Biden administration
rejects[denies] any suggestion that sanctions are part of the problem, emphasizing that the US isn’t penalizing humanitarian goods or food, andputting[shifting] the blame on Putin’s decision to attack Ukraine, including by targeting shipping on the Black Sea [which is blocked with mines].…
About 1,000 companies have so far announced that they are curtailing operations in Russia, according to data collected by the Yale Chief Executive Leadership Institute. That underscores one reason sanctions are so popular with policy makers: They essentially outsource US policy to the private sector [intentional and/or just being lazy?!], which makes it less surgical, less calibrated and less responsive to policy changes, said Smith, the former OFAC adviser.
This becomes important as all sides seek an end to the war [no, they don’t]. The lifting of sanctions can be dangled as an incentive to help bring about a diplomatic resolution to the conflict. But right now it’s hard even to offer that as a potential benefit of entering into negotiations because much of the pullout by American businesses has been self-inflicted [they screwed themselves]. Companies could face public blowback if they are seen as rushing back into the Russian market.
Headline stolen from:
Peter Thiel helped build big tech. Now he wants to tear it all down.
Related:
Not mentioned—Luke Thompson was involved with Protect Ohio Values Super PAC:
A mole hunt, a secret website and Peter Thiel’s big risk: How J.D. Vance won his primary
J.D. Vance and Peter Thiel Accused of ‘Secret Website’ Shenanigans
More About Strive Asset Management:
New ‘excellence capitalism’ movement is challenging woke investors
The president warned carriers that new regulations could be coming as he called on Congress to pass the Ocean Shipping Reform Act of 2022.
‘The rip-off is over’: Biden urges shipping reform during Port of Los Angeles visit
Samizdat | June 10, 2022
Boeing’s decision to pause production of its popular 737 MAX plane may be due to sanctions imposed on Moscow, air safety expert Roman Gusarov told the newspaper Izvestia. Russia provides critical parts and components to the American aircraft maker.
‘Boeing falls victim to anti-Russia sanctions’
Last week, US Treasury Secretary Janet Yellen told the US Congress that “We now are entering a period of transition from one of historic recovery to one that can be marked by stable and steady growth. Making this shift is a central piece of the President’s plan to get inflation under control without sacrificing the economic gains we’ve made.”
It’s true that the US economy since the depths of the pandemic slump, (which remember in terms of national output, incomes and investment was the worst since the 1930s – even worse that the Great Recession of 2008-9) has made a recovery. But it could hardly be described as ‘historic’. And as for the claim that the US economy, the best performing of the major economies in the last year, is heading towards ‘stable and steady growth’, that is not supported by reality.
The scissors of slump
The US is heavily reliant on China and Russia for its ammo supply chain. Congress wants to fix that.
Related:
Antimony is a critical mineral commodity for advanced technological uses and the U.S. imports over 70% of antimony consumed domestically. Most of our imported antimony comes from China, which is beginning to reduce its production. Understanding of the origin of this deposit, the largest known antimony deposit in the U.S., would aid in future exploration for undiscovered deposits of this type, both domestically and internationally.
[2018] Source – US Geological Survey
Congress has repeatedly authorized multimillion-dollar sell-offs of the U.S. strategic minerals stockpile over the past several decades, but Washington’s increased anxiety over Chinese domination of resources critical to the defense industrial base has prompted lawmakers to reverse course and shore up the reserve.
…
The stockpile was valued at nearly $42 billion in today’s dollars at its peak during the beginning of the Cold War in 1952. That value has plummeted to $888 million as of last year following decades of congressionally authorized sell-offs to private sector customers. Lawmakers anticipate the stockpile will become insolvent by FY25.
…
“A lot of what happened is Congress just getting greedy and finding politically convenient ways to fund programs that they weren’t willing to raise revenue for,” said Moulton.
Congress and Pentagon seek to shore up strategic mineral stockpile dominated by China
They only have themselves to blame!
Ms. Cat’s Chronicles 
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