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White House to crack down on supply chain woes
An economic advisor to the White House says the Biden administration is amplifying efforts to alleviate supply chain issues that are driving up the price of ag inputs and other goods.
David Kamin tells Brownfield three global alliances control 80 percent of global container shipping capacity.
“So, to combat this problem, the President will announce steps to lower consumer prices and level the playing field,” he said. “Including launching a new Federal Maritime Commission and Department of Justice Initiative to promote competition in the ocean freight transportation system.”
Kamin said improving shipping infrastructure will help control transportation costs long term.
“There will also be $14 billion in funding for the U.S. Army Corps of Engineers to advance over 500 projects across 52 states to strengthen supply chains, improve waterways and reduce flooding,” Kamin said.
The White House says the Army Corps of Engineers’ projects will be funded by the Bipartisan Infrastructure Law.
Brownfield interviewed Kamin ahead of President Biden’s State of the Union address Tuesday.
