The latest on the global supply chain crisis
The coronavirus pandemic wreaked havoc on global supply chains. The vast network of ports, container vessels and trucking companies that move goods around the world are now badly congested due to a rapid rebound in demand for goods.
This disruption to global supply chains is getting worse ahead of the holidays, spurring shortages of some products, delays and higher prices for consumers.
President Biden announced today that the Port of Los Angeles, the US' largest port, would begin “operating 24 hours a day, seven days a week” to address the global supply chain bottlenecks.
1 New Update
12 min ago
Biden: "If the private sector doesn't step up, we're going to call them out and ask them to act"
From CNN's DJ Judd
President Joe Biden delivers remarks at the White House on Wednesday. (Evan Vucci/AP)
President Biden applauded Walmart, FedEx, and UPS for committing to move more products during off peak hours, and he urged others in the private sector to "step up as well" to help ease the supply chain issues impacting the US.
"Today Walmart, our nation's largest retailer is committing to go all in on moving its products 24/7 from the ports to their stores nationwide. Specifically, Walmart is committing as much as 50% increase in the use of off peak hours over the next several weeks," Biden said.
"FedEx and UPS are the shippers for some of our nation's largest stores but they also ship for tens of thousands of small businesses all across America. Their commitment to go all in on 24/7 operations means that businesses of all sizes will get their goods on shelves faster and more reliably," Biden said of their commitments.
Biden also highlighted commitments from Target, Home Depot and Samsung "to ramp up their activities to utilize off peak hours at the ports.”
Biden hinted to using federal action if the private sector "doesn't step up."
“I want to be clear, this is across the board commitment to go into 24/7 — this is a big first step in speeding up the movement of materials and goods through our supply chain, but now we need the rest of the private sector chain to step up as well,” Biden warned. “This is not called a supply chain for nothing.”
“Strengthening our supply chain will continue to be my team's focus,” he added. “If federal support is needed, I will direct all appropriate action. Now if the private sector doesn't step up, we're going to call them out and ask them to act, because our goal is not only to get through this immediate bottleneck, but to address the long-standing weaknesses in our transportation supply chain that this pandemic has exposed.”
The latest on the global supply chain crisis
By Meg Wagner, Melissa Mahtani, Melissa Macaya, Chris Isidore, Veronica Rocha and Mike Hayes, CNN
Updated 4:23 p.m. ET, October 13, 2021
|
