US President Joe Biden met Wednesday with shipping companies, major retailers and unions to discuss how to open supply chain bottlenecks. It’s an effort the White House hopes will enhance what Americans may actually love to do: shopping or… shopping.
On Wednesday (13/10), the government announced a number of steps that will not only satisfy America’s great appetite for shopping, but will also enrich the global economy that will meet that need.
These include moves by the state’s two largest ports in California to expand operations to 24 hours, as well as increased efforts by large companies, such as Walmart, FedEx, UPS, Samsung, Target and The Home Depot.
Among those six businesses, the White House said, more than 3,500 additional containers full of goods Americans want — toys, furniture, bicycles and tools — will be added to America’s supply chains by the end of the year.
How the world’s most-spending country got to this situation, officials say, is actually very simple: supply and demand. Electronic commerce was 39 percent higher in the first quarter of 2021 than a year earlier, as Americans continued to click “buy” from the internet.
However, a number of industries are having difficulty getting raw materials and getting finished products on store shelves due to the challenges of the coronavirus pandemic, labor shortages, and a surge in consumer demand.
Worldwide pandemic restrictions are also closing vital ports — including some of the world’s busiest, in China. [my/jm]