The U.S. is set to impose penalties on nations backing the International Maritime Organization’s Net-Zero Framework, which seeks to decarbonize international shipping. Officials warn that the framework could raise global shipping costs by over 10%, harming the U.S. economy. Proposed actions include blocking vessels from supportive countries from U.S. ports, imposing visa restrictions, and additional port fees. Critics argue such measures could backfire, increasing costs for U.S. exporters and importers. The framework, approved in April, aims to implement strict emissions limits and pricing in the maritime industry.

Source: https://www.supplychaindive.com/news/us-maritime-shipping-penalties-imo-nzf/802750/