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Biden Unveils $20B Investment To Bolster US Ports

22.02.2024 05:27

Ports network supports $5.4T worth of economic activity each year, nearly 95% of cargo entering US, says White House.

US President Joe Biden's administration unveiled a $20 billion investment Wednesday to bolster the cybersecurity of American ports.

The president will issue an executive order to bolster the security of the nation's ports, in addition to actions that will strengthen maritime cybersecurity, fortify supply chains and strengthen the US's industrial base, the White House said in a statement.

The investment is part of Biden's Investing in America Agenda, it added.

The Infrastructure Investment and Jobs Act, which was signed into law by Biden in November 2021, includes around $1.2 trillion in spending related to federal highways, transit and rail programs.

"America's prosperity is directly linked to maritime trade and the integrated network of ports, terminals, vessels, waterways, and land-side connections that constitute the Nation's Marine Transportation System," said the White House.

"This complex system supports $5.4 trillion worth of economic activity each year, contributes to the employment of more than 31 million Americans, and supports nearly 95% of cargo entering the U.S.," it added. -



 
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