Shipping Act of 1984

The U.S. Shipping Act, was signed into law by President Ronald Reagan on March 20, 1984. The purpose of the Act was to: (1) establish a nondiscriminatory regulatory process for the common carriage of goods by water in the foreign commerce of the United States with a minimum of government intervention and regulatory costs; (2) provide an efficient and economic transportation system in the ocean commerce of the United States that is, insofar as possible, in harmony with, and responsive to, international shipping practices; (3) encourage the development of an economically sound and efficient liner fleet of vessels of the United States capable of meeting national security needs; and (4) promote the growth and development of United States exports through competitive and efficient ocean transportation and by placing a greater reliance on the marketplace.

...
Wikipedia