{"database": "press", "table": "releases", "rows": [["https://dustyjohnson.house.gov/media/press-releases/johnson-gallagher-graves-call-fmc-establish-fair-competition-global-shipping", "Johnson, Gallagher, Graves Call on FMC to Establish Fair Competition in Global Shipping Markets", "2024-02-01", "2024", "2024-02", "Republican", "House", "SD", "Dusty Johnson", "J000301", "dustyjohnson.house.gov", "dustyjohnson", "https://dustyjohnson.house.gov/media/press-releases", "scraper", "Washington, D.C. \u2013 Today, U.S. Representatives Dusty Johnson (R-S.D.), John Garamendi (D-CA), House Select Committee on the Chinese Communist Party Chairman Mike Gallagher (R-WI) and Ranking Member Raja Krishnamoorthi (D-CA), and House Transportation and Infrastructure Committee Chairman Sam Graves (R-MO) and Ranking Member Rick Larsen (D-WA) urged the Federal Maritime Commission (FMC) to work expeditiously to initiate a rulemaking on shipping exchanges and establish healthy and fair competition in the global shipping market.\n\n\u201cChinese Communist Party entities currently dominate shipping exchanges,\u201d said Johnson. \u201cAmerican shippers and global commerce should be concerned, as CCP economic indicators have proven to be unreliable, subject to manipulation and outright falsification. My Ocean Shipping Reform Act sought to rectify China\u2019s influence in shipping contracts, and the FMC should take action on the OSRA provision.\u201d\n\n\u201cCCP state-owned enterprises are quickly gaining market dominance in global shipping exchanges,\u201d said Gallagher. \u201cThe U.S. Federal Maritime Commission must accelerate much-needed regulation to ensure American shippers and exchanges are not steamrolled by their CCP-backed counterparts.\u201d\n\nBackground:\n\nIn June 2022, the Ocean Shipping Reform Act of 2022, sponsored by Reps. Garamendi and Johnson, became law. Among other things, shipping exchanges became regulated entities under the new law. As a result, new regulations must be drafted to provide the rules that shipping exchanges will adhere to. Congress tasked the FMC to begin work on the rulemaking for shipping exchanges no later than three years after the enactment of OSRA 2022.\n\nWhile the deadline for the rulemaking has not yet passed, we cannot wait two more years for a rulemaking on a market that is swiftly becoming a PRC monopoly. The Shanghai Shipping Exchange is a major international freight shipping exchange that is state-owned, jointly by the Ministry of Transport and Shanghai Municipal People\u2019s Government. It currently has a stranglehold on rate indexes to and from the region, presumably intending to become the industry benchmark.\n\nAs the most widely used exchange, their contract rates have risen 35 percent over the past year. If the U.S. does not approve a competitor, the CCP could obtain a monopoly, leading to a troubling outcome for American shippers and global commerce.", 1, "2026-03-30T01:40:41Z", "2026-04-07T20:21:00Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://dustyjohnson.house.gov/media/press-releases/johnson-gallagher-graves-call-fmc-establish-fair-competition-global-shipping"], "units": {}, "query_ms": 18.01108894869685, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}