President Urges Action Against Price Gouging Following Hurricane Helene
WASHINGTON — President Joe Biden has spoken out regarding the labor dispute between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX), accusing employers of benefiting from excessive profits.
“Ocean carriers have experienced record profits since the pandemic, with some companies reporting profit increases of over 800 percent compared to pre-pandemic levels,” Biden stated in a White House release on Tuesday, following the ILA’s strike at 14 ports along the East and Gulf coasts, which disrupted container and roll-on/roll-off operations at 36 marine terminals.
“Executive compensation has risen alongside these profits, and shareholders have received dividends at unprecedented levels. It is only fair that the workers, who risked their health during the pandemic to ensure ports remained operational, receive a substantial wage increase as well.”
