Kip Eideberg, senior vice president of government and industry relations for the Association of Equipment Manufacturers, issued the following statement after the U.S. House of Representatives voted to approve S.3580, the Ocean Shipping Reform Act.
S.3580 now heads to the President's desk, and he is expected to sign the legislation.
"From months-long delays of critical parts and components to ongoing holdups in the shipment of export-ready goods, equipment manufacturers are feeling the pressure of persistent supply chain constraints," said Eideberg.
"This issue is not limited to just our industry; sectors across the American economy are negatively impacted. The Ocean Shipping Reform Act will help address the backlog of export delays by increasing the available number of containers for U.S. exports and create better transparency in ocean freight practices. Thirty percent of all equipment manufactured in the United States is destined for export, so we are particularly sensitive to any interruptions in shipping and exporting goods.
"While we are optimistic this legislation will help break down the bottlenecks at ports across the country, more can and must be done to help American businesses, workers and consumers who continue to face economic challenges. This bipartisan legislation is a step in the right direction, and we encourage our elected leaders to keep the momentum going as the negotiations around the Bipartisan Innovation Act continue.
"Equipment manufacturers call on lawmakers to reach across the aisle to deliver tariff relief to U.S. equipment manufacturers, incentivize domestic semiconductor R&D and manufacturing, strengthen America's critical supply chains and invest in the next generation of skilled workers."
For more information, visit www.aem.org.
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