Despite all the hardships businesses across America have faced over the last year, things are starting to look up. Just last month, President Biden signed the overwhelmingly bipartisan Ocean Shipping Reform Act into law. OSRA will empower regulators to take a closer look at anticompetitive shipping practices that have driven up costs for businesses and consumers. This bill is a much-needed win for Americans and will bring about long-term relief that is so desperately vital.
However, businesses like ours are not out of the woods yet. COVID-19, inflation, supply chain issues, global disruptions caused by the conflict in Ukraine, and a new federal tax on more than 100 chemicals are all making it harder for businesses. On top of this, chemical distributors are still dealing with additional costs imposed by tariffs that increase costs for distributors, our customers, and consumers.
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