Retailers, their suppliers, and 20 Republican senators have urged the administration to engage in the talks to ensure the needs of both workers and the ports are met and further backups, delays and inflationary costs are avoided. At stake in the negotiations is no less than the recovery of the world’s largest economy, already dealing with the most pernicious inflation in four decades, shortages of products ranging from baby formula to air conditioner parts and growing fears that another shock could tilt the country into a recession. recovers from an unprecedented supply chain crisis sparked by the COVID-19 pandemic. This time around, the labor talks take place as the U.S. It took the shipping industry about another nine months after a labor deal was reached in February 2015 to return to normal service, according to an analysis by Copenhagen, Denmark-based Sea-Intelligence. This won’t solve it all but it’ll solve a big piece of it,” the president said in the video. The Labor Department will issue a report on changes to consumer prices in May before his arrival.īiden released a video this week criticizing “outrageous” sea shipping costs and called on the House to clear Senate-passed legislation overhauling the industry. inflation while at the port and argue that cutting shipping costs will curb price increases, a White House official said.
Highlighting the stakes, Biden will discuss the latest data on U.S. “But I feel confident where they’re headed on those conversations.” “We know the impacts if it doesn’t go well,” Labor Secretary Marty Walsh said last week. Biden has directed Cabinet members and supply chain experts to smooth negotiations between the ports and dockworkers in hopes of avoiding a repeat of the monthslong disruptions that followed a 2014 labor dispute.
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