U.S. President, Joe Biden address the ongoing shipping delays and the subsequent upsurge in consumer prices with the chief executive officers of retail and logistics leaders. Also, Biden stated that he realises the possible consequence of the global supply chain disruptions on Americans. During the holidays, the goods will be available by combining retail and logistics industries.
Biden stated that “You’re going to be able to go to the store, go to the outlets you’re looking for, get the products you need, the gifts you want. That’s what we’ve been working on,”
Biden’s administration faces a major problem that prices will be increasing across the country due to the shortage of truck drivers.
Same time Target CEO, Brian Cornell announced that “We are ready to deliver a great shopping experience for guests this holiday season, our inventory levels are well above last year’s and we are processing more containers at night,” wth in the future.
That was a cool statement by him.
Moreover, as the holiday season approaches, the rise in consumer demand is expected to further complicate the situation.
Additionally, Biden intends to establish a spending bill to take a long-term extension. Prices across the U.S. have reportedly risen by 5.4% in the past 12 months.