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The U.S. Will Allocate $17 Billion To Upgrade Ports

The U.S. Will Allocate $17 Billion To Upgrade Ports

On November 5, the U.S. House of Representatives passed the $1.2 trillion infrastructure bill, which will be signed into law by President Joe Biden, making it the largest infrastructure bill in the history of the United States. The Biden administration stated on the 9th that $17 billion of this will be used to upgrade the US port infrastructure, hoping to resolve the long-lasting supply chain crisis. CNBC and CNN reported that the Biden administration's $1.2 trillion infrastructure bill has not yet been signed into law, but the White House has announced on November 9 that it will spend $17 billion to improve the infrastructure of coastal and inland ports, waterways and border ports. A senior US official revealed that the government will cooperate with the US Army Corps of Engineers in the next 60 days to carry out construction projects totaling US$4 billion in coastal ports and inland waterways to improve the efficiency of port operations. In addition, the Biden administration also plans to allocate US$3.4 billion to prioritize the upgrading of old facilities at border crossings, hoping to promote the development of border trade with Canada and Mexico.
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