Ports Address Congress on Infrastructure Investment Needs for Global Trade Competitiveness
Ports need investment from the federal government
Mario Cordero, Chief Executive Officer at the Port of Long Beach California, and Chairman of the Board of the American Association of Port Authorities (AAPA) and Paul Anderson,Chief Executive Officerat the Port of Tampa Bay Florida testified before the U.S. House Committee on Ways and Means Subcommittee on Trade today, April 29, 2021. Cordero and Anderson spoke about how Congress can help ports advance U.S. economic competitiveness through infrastructure investment, rational trade policies, and reform of the Harbor Maintenance Tax.
In his remarks, Cordero discussed the immediate need for federal investment in port infrastructure to ensure that the country keeps pace internationally, stating, “America’s ports need robust support from the federal government to make investments in infrastructure that will enable the efficient flow of trade... Maritime ports create $5.4 trillion in economic activity annually, representing 26% of our Nation’s GDP. Ports are responsible for 30.8 million direct, induced, and indirect jobs. Ports exist to facilitate an integrated, end-to-end supply chain. We optimize goods movement. We build and invest. Ports serve as an engine for economic prosperity in our communities and provide access to markets across the globe for communities nationwide.”
About AAPA Founded in 1912 and recognized as the unified voice of seaports in the Americas. According to IHS Markit’s World Trade Service, combined international sea trade moving through Western Hemisphere ports in 2016 totaled 3.49 billion metric tons in volume and US$3.01 trillion in value. Of that total, ports in Central and South America handled 1.71 billion metric tons of cargo valued at US$941 billion, while North American ports handled 1.79 billion metric tons of goods, valued at US$2.07 trillion. To meet the growing demand for trade, the AAPA and its members are committed to keeping seaports navigable, secure and sustainable. For more information, visit www.aapa-ports.org. On Twitter: http://twitter.com/AAPA_Seaports