So as I promised on May 5, I have been waiting and watching. Here is what I have seen. There are no major, global, American-owned carriers left to protect. Antitrust immunity now almost exclusively benefits foreign-owned carriers at the expense of American shippers and consumers. Reports of abuses of the discussion agreement system continue.
Prices continue to go up.
NVOs, freight forwarders, small and medium-sized shippers, and shippers' associations continue to face discrimination. And our trading partners have begun the long overdue move away from antitrust immunity. For all these reasons, I believe that we must begin a thorough examination of the continued viability of antitrust immunity. I expect that we will hold Judiciary Committee hearings on the FAIR Act early next year. The proposed FAIR Act will repeal antitrust immunity for carriers, but it will retain the immunity for the ports and for assessment agreements with longshore labor unions.