Sky rocketing freight rates bearing down so hard on businesses that they are now starting to fight back.In both Europe and the US, companies are now blaming carriers of collusion and profiteering, while port terminal operators are being accused of adding unjustified surcharges. While most acknowledge that equipment shortages, driven by an imbalance between imports and exports, as well as labor shortages accounted for the dramatic rise in freights during the past year, the fact that ocean rates to the US East Coast have now exceeded $20,000 for a 40-foot container - and that’s if you’re lucky enough to get a booking - has prompted companies to take action.Western Domestic Exporters Take ActionIn Europe the price of a 40-foot container from Shanghai to Rotterdam is now nearly $14,000 from about $2,000 last November.Initially it was the Western exporters who were calling on governments to reign in carriers who opportunistically raced back to Asia to where rates have been soaring, without waiting to load export cargo. The United States saw at least $1.3 billion in potential agricultural exports rejected at major ports on the East and West coasts, from July to December 2020, according to a CNBC analysis.The difference in fronthaul and backhaul cargoes on the transpacific is now more than $17,000 per FEU, making liners keen to get boxes repositioned fast to make the most of today’s extraordinary freight rate environment. US East Coast to China is $1,208/FEU, with US West Coast to China at $1,130/FEU, per Freightos data.From North Europe to Asia there’s now nearly a $12,000 spread between fronthaul and backhaul rates.Things Could Worsen for Retailers and Asian ExportersThe US Congress is currently discussing whether to take legal action to force carriers to pick up US exports.The carriers' export decisions at these ports are under investigation by the Federal Maritime Commission. Commissioners are examining whether this denial of trade is in violation of the 1984 Shipping Act. One of the key legal obligations in the Shipping Act is the nondiscriminatory regulatory process by the carriers for the movement of goods by water. Should carriers be forced to remain in ports to load export cargo and then spend time unloading it in Asia, delays and capacity shortages for Asian exporters are likely to worsen.From Frustrated to FuriousWhat previously was a group of pitchfork-angry Western exporters has expanded to include increasingly desperate importers.Not only are retailers being battered by astronomical freight costs, they’re now worried that they might not be able to get sufficient inventory into stores and warehouses to meet holiday season demand. Of course that’s assuming that consumer spending in the US and Europe remains at the levels we’ve seen during the past year.However, even if holiday demand is below expectations, inventories are at rock bottom levels. The words ‘out of stock’ might be heard almost as often as ‘Merry Christmas’ this year.Governments Start to Take ActionOn July 9, the Biden Administration signed a sweeping Executive Order on Promoting Competition in the American Economy. This is likely to sharpen the focus on the freight industry, amongst many others.In the UK the Competition and Markets Authority is examining allegations of price gouging by shipping providers after a staggering rise in container costs squeezing both importers and consumers.US Federal maritime regulators have also ordered eight container lines to provide details showing how congestion port surcharges meet legal and regulatory requirements, the latest escalation in increased US oversight of container shipping.Although it is difficult to predict the full range of the impact of the Executive Order on ocean carriers subject to U.S. laws and regulations, what is clear is that there will be a lot more scrutiny over surcharges and rate increases.