US Ports Will Receive $450m To help alleviate supply Chain Bottlenecks

US ports to receive $450m

The federal funds are also intended to transport commodities in order to cut prices for American consumers.

As part of the administration’s recent stepped-up attempts to reduce supply chain congestion and decrease prices for American customers, clogged US ports are being granted access to almost $450 million in government money from President Joe Biden’s infrastructure program.

The awards are primarily focused at addressing bottlenecks that have hindered the flow of items to shop shelves and increased expenses.

On Wednesday, Transportation Secretary Pete Buttigieg announced the availability of a first round of competitive funds for ports.

The funds are part of a $1 trillion fund that the department plans to use to provide medium- and long-term assistance to the country’s supply system, which administration officials described as “outdated and dysfunctional.”

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Buttigieg stated, “We’re delighted to announce this money to help ports upgrade their infrastructure – to get commodities flowing more effectively and keep costs under control for American people.”

Despite the fact that the improvements would take time, Biden officials have mostly stayed away from any pledges that Americans will see visible changes in their lives before the 2022 midterm elections.

A study on the supply chain will be released by the Department of Transportation.

It advocates for improved government-private sector collaboration and data exchange.

The government gave out $241 million in grants last year, including $52.3 million to expand rail capacity at the Long Beach port. Also, it really has pushed to extend workdays at key ports and to boost trucking sector recruitment and retention.

Furthermore, in an effort to minimize the United States’ reliance on China, Biden announced additional US investments on Tuesday to promote local production of minerals used in electronics such as electric vehicles, cellphones, and appliances.

Not forgetting, President Joe Biden has admitted that if US sanctions against Russian President Vladimir Putin over Ukraine result in a reduction in Russia’s oil and natural gas exports, Americans and other consumers may suffer more.