Biden announces $3 billion investment for US ports
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The cargo ship 'Dali' moves from the Francis Scott Key Bridge to the Seagirt Marine Terminal at the Port of Baltimore in Baltimore, Maryland, U.S. May 20, 2024. REUTERS/Nathan Howard/File Photo
(Reuters) -U.S. President Joe Biden on Tuesday 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.
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.
(Reporting by Disha Mishra in Bengaluru, editing by Ed Osmond and Jason Neely)
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