Collective bargaining is the best way for workers to get the pay and benefits they deserve. I have urged 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 that ensures they are paid appropriately in line with their invaluable contributions. 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.
As our nation climbs out of the aftermath of Hurricane Helene, dockworkers will play an essential role in getting communities the resources they need. 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.
It is time for USMX to negotiate a fair contract with the longshoremen that reflects the substantial contribution they've been making to our economic comeback.
