1. FedEx Fred Smith as Executive Chairman of FedEx
From June 1, 2022, Frederick W. Smith, Chairman and CEO, transitioned to Executive Chairman, and Raj Subramaniam, Chairman and CEO, assumed the position of Chairman and Chief Executive Officer. elected executive.
2. Supply Chain Affirmed in the State of the Union Message
Given the responsibility for supply chain and logistics, at both the national and global levels, it should come as no surprise that President Joe Biden's State of the Union address is full of directives and stances. major focus on the field of Logisitics.
3. White House spends $2.9 billion in infrastructure investment
To put the Dual Infrastructure Act into effect, the White House and the US Department of Transportation (DOT) said it would spend $2.9 billion on transportation infrastructure investments.
4. US Senate Passes Postal Service Reform Act
Following approval by the United States House of Representatives on February 8, the Senate also signed the Postal Service Reform Act—a law focused on strengthening the capacity of the United States Postal Service (USPS).
5. Rail service reviewed at STB . hearing
The hearing, titled "Urgent Issues in Rail Transit," included responses from executive-level officials, including operations and personnel officials, of BNSF Rail. , CSX Transportation, Inc., Norfolk Southern Railway Company and Union Pacific Railroad Company.
6. President Biden floats the possibility of reducing China tariffs
One issue that, before the pandemic, was on the list of many stakeholders, was tariffs, which later appeared to have been ignored. But, for now, there's a chance that could change based on some of President Biden's remarks.
7. Port Tracker report shows slow import activity, with high inventory levels at retailers
The Port Tracker report released by the National Retail Federation and the Hackett Associates Maritime Consultants shows that retail container port volumes are down compared to monthly volumes.
8. U.S. logistics business expenses increased 22.4% to $1.85 trillion
The US supply chain is out of sync. But logistics entrepreneurs continue to look for long-term solutions to supply chain problems. US logistics costs increased a whopping 22.4% to $1.85 trillion; accounting for 8% of the Gross Domestic Product (GDP) of $23 trillion in 2021.
9. US President advised to focus on railroad union labor issues
The Presidential Emergency Board (PEB), appointed by President Biden, focused on resolving labor disputes between rail carriers over reaching a labor agreement, has made recommendations to help further quell rail-related supply chain disruptions.
10. White House, associations press ILWU and PMA to implement new employment contract
Although the current contract has expired, ILWU and the PMA said on July 1, 2022 that negotiations for an agreement continue to proceed.
Source: Vietnam Logistics Review
