Madam President, reserving the right to object, I know my colleague--well, I assume my colleague is sincere about his interest in doing something about our issues of port congestion and supply chain issues, but I disagree with his approach…
Madam President, reserving the right to object, I know my colleague--well, I assume my colleague is sincere about his interest in doing something about our issues of port congestion and supply chain issues, but I disagree with his approach here today.
I have, personally, worked very hard on increasing the amount of investment in port infrastructure that was in the bill--just signed by the President on Monday--that helps to increase port capacity around the United States. Why? Because we have seen, even in a pandemic, an increase in trade and port activities. So, yes, we have to invest in our infrastructure.
I take disagreement with my colleague's characterization that the President hasn't done anything because the President has helped at L.A.-Long Beach in reducing the congestion, and he has put in place a better COVID response process. My colleagues need to understand that longshoremen died in the COVID pandemic while delivering goods and products to us in the United States of America. They died. So getting a better response in vaccination for people working on our docks is incredibly important. So the President has done something. He has got a better COVID response; he has basically helped at reducing congestion; and he has got a plan to invest in our ports all over the United States of America.
I know my colleague wishes that it would be so simple, but these shipping companies are reporting more than $200 billion in profit--$200 billion in profit even during the pandemic. So they are not lacking for money. And, if they wanted to go to those ports, they would go to those ports. We heard from one of the big shipping associations that going anywhere, just to say that you want to go there when there are logistical and cost reasons that don't likely bear out, eventually, the customer really just wants to go where the customer wants to go.
That is why it is so important to invest in our ports. That is why we led the charge for a $2.25 billion investment. Why? Because 95 percent of consumers live outside of the United States. And if we want to be involved in the trade economy, we should invest in our infrastructure to get product to and from our citizens, to other citizens of the world, the 95 percent who live outside of the United States.
So I don't think giving shippers--who are having a recordbreaking profit year--more money is going to make them go to other ports. So I do hope that we continue to look at ways to catch up from the fact that production in many areas of our economy were off. There is no bigger example than the 8-percent reduction in oil from OPEC in 2020.
Talk about something we need to address, my colleagues and I sent a letter to President Trump about high oil prices in 2018, and we recommended these various things that the President should do: leverage a relationship with the Saudi Crown Prince to urge them to increase capacity in world oil supplies, make sure the energy Secretary
is communicating that with Vienna and OPEC nations, initiate world- trade disputes regarding countries' anti-competitive practices, work with our European allies and China and make sure that they are working on this issue. We just had a hearing this morning asking the FTC, if they do see any kind of manipulation or moving of supply, please investigate it; and, in this case, we said, Abandon the Trump administration's rollback of fuel economy standards.
Because guess what Americans want when there are high oil prices? They want fuel-efficient cars.
That also is what we just legislated, and that is why we need to keep working on this issue, because as long as we are in a world oil market, and as long as we are under these pressures of OPEC, we are never going to win the day. The best way to win the day is to get an economy that is less dependent on those prices being impacted by OPEC.
Now, I may shock some people here this afternoon, but I am for getting rid of the Trump 301 tariffs. These have cost us enormously in the Pacific Northwest--higher seafood costs, higher equipment costs, higher cost on agriculture products, higher costs on aerospace.
So we have had the two dilemmas of a COVID pandemic taking a workforce out of production, literally. I don't know if my colleague supported the aid to the airline industry or not, but basically COVID hit, it ended up costing over 15,000 jobs in the aerospace sector in my State--gone, gone, gone. So not here today.
If you imagine, if that happened with the airline production--why? Because what airline was going to buy a new plane? It wasn't going to happen.
People are saying now they don't think it is going to happen until 2023 or 2024, even though there are some announcements happening now. In general, people don't think that the airline sector is going to recover to where it was before for several years.
So just imagine if every other sector did the same thing, that reduced their workforce in response to COVID, and now we are seeing the impacts of that.
So what do we do? Let's be smart about each of these cost areas and figure out what we can do to reduce those costs.
Giving $125 million to basically the shipping companies of the world that basically have made record profits--one company said that was the biggest profit last year that they have made in 117 years. OK. So they don't need more money to just go from LA, Long Beach to Miami.
But I want the Senator of Florida to know I actually believe in his port economy. I don't know what is going to happen to the port economies of the world. I don't know if we are going to switch dynamics.
We have supported freight investment because freight can't wait. If you don't have good freight movement, you are going to lose to some other country. So we supported that.
In fact, I see my colleague from Maryland here. The director for the Port of Baltimore came and became the director of the Port of Seattle. And I said: Do you think if we invest in freight, moving freight, somehow we might lose to the west coast and other places?
He said: The business is just going to continue to grow, and everybody will lose if we don't increase more efficiencies.
That is the objective: increase more efficiencies at every port.
I know the Presiding Officer from the Great Lakes wants to do the same thing, increase the capacity and efficiency of the Great Lakes. Let's get an icebreaker. Let's invest in port infrastructure. We led the charge. Why? Because I know that the Presiding Officer today knows that the competitiveness of your State in Wisconsin depends on manufacturers getting those products made and outside your State and on to a world market.
That is what is going to help us with our economy and reducing price, is to get production up and to get product moving efficiently.
So if my colleague--and I sincerely offer this--wants to help me, because I guarantee you not everybody on my side is going to call for this, but I am definitely calling for a repeal of the 301 Trump tariffs. I didn't approve them when he did it the first time because these kind of punitive tariffs just basically exacerbated the problem with retaliatory tariffs, and those retaliatory tariffs are costing us right now.
I know that Secretary Yellen is looking at this, I know that USTR is looking at this, and I would just encourage the President to look at this. And I would encourage the President to do everything he can to work with our nation countries to put pressure on OPEC, just as we did before, to try to address this issue on price. But let's work not on reducing the cost to shipping companies that don't need anything because they have seen record profits; let us instead invest in our ports and our ports economy.
So, Madam President, I object.