US President Joe Biden promised a “crackdown” on liner operators during his State of the Union address on Tuesday, prompting another round of denunciations from the industry.
During the president’s annual address to Congress, Biden said ocean carriers are an example of businesses that do not have to compete, driving up prices and hurting small businesses and family farms.
“During the pandemic, these foreign-owned companies raised prices by as much as 1,000% and made record profits,” he said.
