The Biden Administration is investing over $20 billion in port security, to protect against Chinese cybersecurity threats. One takeaway will be funding for alternatives to Chinese-made cranes. And one beneficiary will be Mitsui.
Why?
As Foundation for Defense of Democracies (FDD)‘s Craig Singleton put it, “Increasingly, the Chinese are not merely seeking access to our networks; they are pre-emptively positioning to compromise and control them. As a result, China is poised to impede the mobilization of American military forces, foment a state of disarray, and redirect national attention and resources in both war and short-of-war scenarios.”
This is good news for US-based supply chain providers that can deliver an alternative to American ports.
For more on port security, see my post on LinkedIn here. And visit the Wall Street Journal for their article on this issue.
