Maryland governor warns bridge collapse will have ‘massive impact’ on US economy across multiple industries

Pls share this post


Listen to this article

Maryland Gov. Wes Moore said Sunday his state won’t be the only one to feel the economic impact of the collapse of the Francis Scott Key Bridge in the Port of Baltimore, warning ripples will be felt in numerous industries across the country.

Moore appeared on “Fox News Sunday” and discussed the important role one of the nation’s busiest ports plays in the national economy as officials continue to remove the steel debris from the fallen bridge and the Eiffel Tower-sized vessel blocks shipping lanes. 

“It’s not just a massive impact on Maryland,” the Democrat said. “This is a massive impact on the national economy.”

Moore said the Port of Baltimore has a far-reaching impact on states across the country because it handles more cars, heavy trucks and agricultural equipment than any other port in the U.S.

READ ALSO 
Soft drink company hiring two 'soda consultants' to travel across America for $40K

BALTIMORE BRIDGE COLLAPSE: MARYLAND GOVERNOR SAYS CONDITIONS ARE CURRENTLY ‘UNSAFE’ FOR RESCUE DIVERS

“This is impacting the farmer in Kentucky,” Moore said. “It’s impacting the auto dealer in Ohio. It’s impacting the restaurants in Louisiana and in Tennessee. This is impacting the entire country.”

Economists are predicting Americans will feel an inflation “pinch” in grocery bills, gas prices and other goods as the collapse snarls shipping and maritime traffic at the port.

The American Trucking Association told FOX Business last week an estimated 4,900 trucks traveled the bridge every day, carrying about $28 billion in goods every year. 

The port is the busiest in the U.S. for car shipments, handling more than 750,000 vehicles in 2023, according to data from the Maryland Port Administration. It is also the largest U.S. port by volume for handling farm and construction machinery and agricultural products.

READ ALSO  US national debt tracker for Feb. 21, 2024: See what American taxpayers (you) owe in real time

BALTIMORE KEY BRIDGE: HOUSE REPUBLICANS DIVIDED AFTER BIDEN VOWS FEDS WILL FOOT THE BILL

While Moore said it was imperative to clear debris and rebuild the bridge, the governor did not provide a timeline when asked, emphasizing that it is a “remarkably complex operation.”

“We know this is going to be a long road to recovery, but we know that we have to move with safety, and we have to move with speed in order to get our commercial engine going again,” the governor said.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

“I want that investigation to be speedy, and for anyone who needs to be held accountable to be held accountable,” Moore said. “And, at the same time, we have got to get this channel opened. We have got to get commerce flowing again. And we have got to rebuild the Francis Scott Key Bridge.”

READ ALSO  Super Bowl Sunday beer sales jumped in 2024, with Corona taking top spot

Fox Business’ Daniella Genovese, Greg Normand and Chris Pandolfo contributed to this report.

Source



Pls share this post
Previous article
AT&T resets millions of passcodes after data leak
Next article
Dave Portnoy and his viral pit bull ‘Miss Peaches’ raise $500K for various animal shelters