Even after the passage of Staggers Rail Act of 1980 that loosens regulation a bit, giving railroads broad power over business practices and the legal implications of shipping through railroad, certain issues remained to be subject to regulation by the Interstate Commerce Commission (ICC) to prevent predatory pricing, and to prevent concentration on market share. It was intended to provide customers with protection from competing shipping choices. However, in the year 1995, the ICC was abolished and replaced with the Surface Transportation Board, with smaller power and less size. Since then, there has virtually no competition, nor security from excessively high prices. Nowadays, the bulk of US transportation is operated by four freight companies. They have implemented through regional Monopolies. These give foreign firms an advantage on the markets by increasing their goods prices.
Presently, Congress is considering legislation which would establish a more fair and more competitive market for transport via rail. Because the legislation has just Democratic supporters, the bill’s fate within the January session of the new Congress is uncertain. But, predatory and uncompetitive pricing continues to be a significant topic in the legal aspect of railroad shipping. The law is in the hands of hundreds of businesses, including industries in agriculture, manufacturing as well as transport, chemical, paper and forest, along with the diverse railway unions.
There are also other problems with the law and regulations that can arise from railway freight
Different legal Systems: All shipping agreements must cover the applicable law and regulations of every country through which the goods traverse. The agreement as well as its participants are required to anticipate everything from the company’s structure and corporate structure, to its shipping practices. Logistics for shipping – It’s difficult to track the various regulations and forms and paperwork, which increases exponentially the larger and weight of the package. Some system or other (software is now available) must be devel