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US: Biden Urges Ocean Carriers To Negotiate Fair Pay With Portworkers

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US President Joe Biden has issued a statementurging USMX, which represents a group of foreign-owned carriers, "to come to the table and present a fair offer to the workers of the International Longshoremen’s Association." Biden's statement stops short of pledging any executive action to intervene in the port strike, which got underway at midnight last night. 

  • Biden: "Ocean carriers have made record profits since the pandemic and in some cases profits grew in excess of 800 percent compared to their profits prior to the pandemic. Executive compensation has grown in line with those profits and profits have been returned to shareholders at record rates. It’s only fair that workers, who put themselves at risk during the pandemic to keep ports open, see a meaningful increase in their wages as well."
  • Biden: "Now is not the time for ocean carriers to refuse to negotiate a fair wage for these essential workers while raking in record profits. My Administration will be monitoring for any price gouging activity that benefits foreign ocean carriers, including those on the USMX board."
  • The Washington Post notes that beyond the obvious economic consequences if the strike is prolonged, "the bigger reason everyone should pay attention is that this is an early battle of well-paid workers against advanced automation. There will be many more to come."

 

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US President Joe Biden has issued a statementurging USMX, which represents a group of foreign-owned carriers, "to come to the table and present a fair offer to the workers of the International Longshoremen’s Association." Biden's statement stops short of pledging any executive action to intervene in the port strike, which got underway at midnight last night. 

  • Biden: "Ocean carriers have made record profits since the pandemic and in some cases profits grew in excess of 800 percent compared to their profits prior to the pandemic. Executive compensation has grown in line with those profits and profits have been returned to shareholders at record rates. It’s only fair that workers, who put themselves at risk during the pandemic to keep ports open, see a meaningful increase in their wages as well."
  • Biden: "Now is not the time for ocean carriers to refuse to negotiate a fair wage for these essential workers while raking in record profits. My Administration will be monitoring for any price gouging activity that benefits foreign ocean carriers, including those on the USMX board."
  • The Washington Post notes that beyond the obvious economic consequences if the strike is prolonged, "the bigger reason everyone should pay attention is that this is an early battle of well-paid workers against advanced automation. There will be many more to come."