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Biden Attempts to Curb Inflation With Law Aimed at Cutting Shipping Rates
President Joe Biden signed legislation on Thursday aimed at cutting overseas shipping prices, calling the new law another move by his administration to curb stubborn inflation. The law will stop “shipping companies taking advantage of American families, farmers, ranchers and businesses,” the president said at a signing ceremony for the broadly bipartisan measure -- an indication of the White House’s urgency to show voters it’s trying to bring down price increases stuck at a four-decade high. “They raked in the profits and the costs got passed on, as you might guess, directly to consumers,” he added. ... (full story)