An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Federal Maritime Commission (FMC)

An independent federal agency responsible for regulating the U.S. international ocean transportation system to ensure fair and competitive practices.

Ocean Common Carrier

A company that transports goods by water on regular routes and offers its services to the public for a fee.

Shipping Exchange

A marketplace or platform where services for shipping goods by ocean are traded or booked.

Controlled Carrier

An ocean common carrier that is owned or largely influenced by a foreign government, or, under this bill, a carrier linked to a country with specific economic or trade practices.

Nonmarket Economy Country

A country whose government significantly influences its economy, often through ownership or control of industries, rather than allowing market forces to primarily determine prices and production.

U.S. Trade Representative (USTR)

The U.S. government agency responsible for developing and coordinating U.S. international trade, commodity, and direct investment policy, and for overseeing negotiations with other countries.

Fiscal Year