Joe Biden to send 'all federal resources' as six remain missing, wants US govt to bear cost of reconstruction

livemint.com:

Baltimore has been suspended until further notice and we'll need to clear that channel before the ship traffic can resume," he told reporters at White House. "It's my intention that the federal government will pay for the entire cost of reconstructing that bridge...The people of Baltimore can count on us." The US President also said that the federal agencies are assisting with search and rescue efforts around the Francis Scott Key Bridge. "Officials at the scene estimate eight people were unaccounted for.

That number might change. Two have been rescued, one without injury and one in critical condition, and the search and rescue operation is continuing for all those remaining as we speak," he said adding that everything indicates that it was a "terrible accident". Biden also said that there was "no other indication" to believe that it was an intentional act.

The Francis Scott Key Bridge collapsed after a heavily laden cargo ship lost power and smashed into a support column. Synergy Marine Group, the owners of the ship, said that all 22 crew members on board the ship "Dali" were Indians. All of them are safe.

The accident has put a halt on one of the most important ports on the US East Coast. According to a report by Bloomberg, it has the potential to slow down the supply chains and drive up the cost of consumer goods ahead of the November election. The clearing and re-construction of a new bridge is likely to cost billions of dollars.