There’s “no question” the Interstate 95 collapse in Philadelphia over the weekend will lead to higher prices of goods for people on the East Coast, U.S. Transportation Secretary Pete Buttigieg said at a press conference Tuesday
, suggesting the failure of the small section of highway could have far-reaching economic impacts.... [+]Copyright 2023 The Associated Press. All rights reserved.people often don’t realize that “part of what goes into the cost of everything that we pay for at the store is the cost of shipping, and if a route is disrupted … that finds its way into the cost of goods,” adding there’s “no question” prices on the East Coast will see a jump.
Buttigieg did not specify what goods will have price increases specifically or how much the increases may be. Though Buttigieg hasn’t seen figures on the economic impact of the collapse so far, he said “a lot of America’s GDP” moves along that section of I-95 daily; 8% of the 160,000 vehicles that pass through are trucks.Tuesday morning that the portion of I-95 is “a key artery for people and goods” and that emergency relief funds are already available for engineering and construction needs.
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