The Port of Los Angeles and its stevedores will provide 24-hour service to alleviate the delays that have aggravated the problems of the global supply chain, US authorities said Wednesday.
US President Joe Biden will announce the commitment at a meeting Wednesday with leaders of the giant West Coast port and the longshoremen’s union.
The White House also obtained commitments from companies such as Walmart, FedEx and UPS to move to 24-hour service in some operations, authorities said.
The announcements coincide with the proliferation of problems in the supply chain and logistics that affect the global economic recovery after the closures due to the COVID-19 pandemic.
The International Monetary Fund warned on Tuesday that supply chain disruptions lead to price increases, and cut its growth forecasts in an uneven economic recovery.
The US Secretary of the Treasury, Janet Yellen, urged not to panic over price increases and the shortage of some goods, and assured that this would not last long.
Several factors contribute to the shortage of raw materials and finished goods that plague traders, including factory closures in countries that imposed COVID-19 quarantines, increases in demand for some products and a lack of labor.
Backlogs at US ports have contributed to the problem. The neighboring ports of Los Angeles and Long Beach have had 60 or more vessels waiting to anchor.
Both ports are key for the entry of Asian products.
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