41 U.S. ports will be improved under the Port Infrastructure Development Program (PIDP) to strengthen the nation's supply chains.
The U.S. Department of Transportation's Maritime Administration (MARAD) announced $653 million funding to help grow capacity and increase efficiency at coastal seaports, Great Lakes ports, and inland river ports.
A significant portion of domestic and international U.S. commerce moves by water. The port improvement projects will strengthen supply chain reliability, create workforce development opportunities, speed up the movement of goods, and improve the safety, reliability and resilience of ports, the Department of Transportation said in a statement. These investments are part of the largest dedicated funding for ports and waterways in U.S. history, which is released through the Bipartisan Infrastructure Law.
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Political News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.