Pres. Biden signed legislation meant to lower the cost of shipping goods across oceans, a move the White House says will help ease logistical costs for retailers that have remained high since the start of the pandemic and helped fuel record inflation.
signed legislation Thursday meant to make shipping goods across oceans cheaper — a move the White House says will help lower retailer costs that have remained high since the start of the coronavirus pandemic and helped fuel record inflation.
The president also stressed that a concentration of corporate shipping power in the hands of just nine, large and foreign-owned companies has fed higher shipping costs in ways that hurt businesses and exacerbate problems with inflation. He added that the new law would "bring down prices to give American families a bit more breathing room.”
“People know that prices are too high and we have to do something. And this was one of the obvious culprits," said Minnesota Democratic Sen. Amy Klobuchar, who cosponsored the law with South Dakota Republican Sen. John Thune. "There’s a lot of things, but this was pretty glaring.”
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
What Joe Biden has previously said about Saudi Arabia as visit confirmedThe visit, set to take place between July 13 and 16, could mark a shift in relations between the two nations.
Weiterlesen »
President Biden eyes ban on ‘ gay conversion therapy’ funding with order marking Pride MonthLGBTQ youth who have been subjected to or threatened with conversion therapy practices were more than twice as likely to report attempting suicide within the past year as those who did not.
Weiterlesen »
Hillary Clinton gives advice on how Joe Biden can turn things aroundWhat democracies need to succeed is 'leaders who endeavor to bring out the best in us,' Hillary Clinton said in a new interview.
Weiterlesen »
President Biden says a recession is ‘not inevitable’Biden renewed his contention that major oil companies have benefited from higher prices without increasing production as much as they should. He said the companies needed to think of the world in t…
Weiterlesen »
Exxon Mobil to President Biden: we’re investing more than any other oil companyWhile the push and pull between the oil and gas industry and Washington D.C. is nothing...
Weiterlesen »