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On Friday, July 9, 2021, President Biden signed an executive order to increase competition and combat aggressive pricing for railroads and in the shipping industry. The order asks the Surface Transportation Board to look into long-standing measures like so-called “competitive switching rules,” which require a monopoly railway to grant access to its railroad under certain conditions. It also urges the board to make it easier for shippers to challenge inflated rates when there is no competition between two routes. In addition, the order urges the Federal Maritime Commission to work with the Justice Department to investigate and punish anticompetitive practices. The agency and Justice Department are planning to sign a new memorandum to enhance cooperation between the two “shortly,”.
Read the full EO HERE.