Container freight rates have surged over the past year. File Image / Pixabay
US President Joe Biden is set to sign an executive order aimed at creating more competition in the shipping industry.
Biden is due to comment on the order on Friday, news agency Reuters reported, citing comments from administration sources.
The order will direct the Federal Maritime Commission "to take all possible steps to protect American exporters from the high costs imposed by the ocean carriers" and to "crack down on unjust and unreasonable fees," Reuters cited White House sources as saying.
The executive order also targets competition in the rail freight market.
Container freight rates have surged over the past year on increased demand and as COVID-19 lockdown measures disrupted operations at some ports.