• By The Financial District

Biden Seeks To Move Goods Faster By Having LA Port Work 24/7

President Joe Biden is trying to reassure Americans that he can tame high inflation, announcing a deal to expand operations at the Port of Los Angeles as prices keep climbing and container ships wait to dock in a traffic jam threatening the US economy and holiday shopping, Josh Boak reported for the Associated Press (AP).

Photo Insert: The Port of LA

Prices are jumping in large part because container ships are stranded at ports and because unloaded goods are waiting for trucks, leading to mass shortages and delays that have caused a longer than expected bout of inflation.

The rising costs are eating into worker pay, creating a drag on growth and driving Republican criticism of Biden just as his multitrillion-dollar tax, economic, climate and infrastructure agenda is going through the crucible of congressional negotiations.

The White House responded to the backlog by finalizing an agreement for the Port of Los Angeles to become a 24-hour, seven-days-a-week operation.

Ports in Los Angeles and Long Beach, California, account for 40% of all shipping containers entering the US. As of Tuesday, there were 64 ships berthed at the two ports and 80 waiting to dock and unload, according to the Marine Exchange of Southern California

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

The hope is that nighttime operations will help to break the logjam and reduce shipping delays for toasters, sneakers, bicycles, cars, and more. “With holidays coming up, you might be wondering if the gifts you plan to buy will arrive on time,” Biden said at the White House.

“Today we have some good news: We’re going to help speed up the delivery of goods all across America.” Ports are also just one piece of the puzzle, Biden said.

Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

The country needs more truck drivers, private retailers to step up, and better infrastructure, as well as a supply chain that can less easily be disrupted by pandemics and extreme weather.

The president is trying to use the predicament as a selling point for his policy plans that undergoing congressional scrutiny.

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