Breaking Stories

: Biden touts expanded hours for L.A. port in bid for supply-chain relief

Panorama of a city business district with office buildings and skyscrapers and superimposed data, charts and diagrams related to stock market, currency exchange and global finance. Blue line graphs with numbers and exchange rates, candlestick charts and financial figures fill the image with a glowing light. Sunset light.

President Joe Biden is touting expanded hours for the Port of Los Angeles as he plans a speech Wednesday on his administration’s efforts to relieve supply-chain pressures.

The president said the key port will operate “24/7,” and that his White House is working “around the clock to move more goods faster and strengthen the resiliency of our supply chains.”

Biden will meet Wednesday with the leadership of the Port of Los Angeles, the Port of Long Beach and the International Longshore and Warehouse Union to “discuss the challenges at ports across the country and actions each partner can take to address these delays,” White House press secretary Jen Psaki told reporters on Tuesday.

Separately, senior administration officials are holding a roundtable with top executives from Home Depot

and UPS
as the White House says those companies will use expanded hours to move cargo off docks.

As the coronavirus pandemic continues to snarl supply-chain channels, MarketWatch has reported that major retailers like Home Depot and Target

are chartering ships to deliver goods in time for the holiday season.

The White House meetings come a day after the International Monetary Fund lowered its world-economy growth forecast for this year, citing in part supply-chain disruptions in wealthy countries.

Deep Dive: These quality dividend stocks have a built-in advantage that can keep you ahead of inflation in 2022

Previous article

Retire Better: Seniors are getting a big Social Security raise — but here’s why they’re falling further behind

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *