Biden's $3 Billion Investment in Port Infrastructure

(Reuters) – U.S. President Joe Biden on Tuesday announced a $3 billion investment from his Inflation Reduction Act to improve the country's port infrastructure.

The investment includes $147 million in awards for the Maryland Port Administration, which owns the Port of Baltimore, the White House said in a statement.

The funding will be used to create union jobs and upgrade port infrastructure to cleaner equipment, the statement added.

The announcement comes after the three-day port strike on the U.S. East Coast and Gulf Coast earlier this month, where work stoppage briefly halted the flow of about half the country's ocean shipping.