U.S. Announces $3 Billion Investment in Port Infrastructure
U.S. President Joe Biden announced a $3 billion investment from his Inflation Reduction Act to improve the country's port infrastructure.
The investment includes $147 million in awards for the Maryland Port Administration, which owns the Port of Baltimore, the White House said in a statement.
The funding will be used to create union jobs and upgrade port infrastructure to cleaner equipment, the statement added.
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The announcement comes after the three day port strike on the U.S. East Coast and Gulf Coast earlier this month, where work stoppage briefly halted the flow of about half the country's ocean shipping.
Source: Reuters
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