Carriers Rejected at Least $1.3 Billion in Potential U.S. Agricultural Exports From July to December
The estimated total value of lost export trade from the three ports for December was a minimum of $257.5 million. The Port of New York and New Jersey saw its largest volume of export rejections for 2020 during December. The maritime carriers' export decisions at these ports are under investigation by the Federal Maritime Commission. Commissioners are examining whether this denial of trade is in violation of the 1984 Shipping Act. This investigation comes at a time where China's exports hit records. The full year trade surplus reached $535 billion, the highest since 2015. One of the key legal ...