Leaders from the retail industry are urging Uncle Joe to show “strong leadership” in order to help American supply chains return to some semblance of normalcy.
The President and CEO of the National Retail Federation, Matthew Shay, sent a letter to Uncle Joe, Transportation Secretary Pete Buttigieg, Commerce Secretary Gina Raimondo, and other White House officials that bring to light a series of issues that are presently facing business leaders.
Shay went on to note that the recession has caused severe bottlenecks on ports and shipping processes which is a reality that has caused issues for well over 97% of American retailers:
Our nation’s supply chains are stressed because of the COVID-19 global pandemic, and they continue to struggle through our economic recovery. We would like an opportunity to discuss the impact these issues are having on the nation’s retailers, our workers and our customers, as well as potential solutions to address current and future disruptions.
The letter goes on to state that American business leaders are currently going through a torrent of other obstacles. About 85% of these executives report inventory shortages; while around 70% state that they have had to add up to three weeks onto their supply chains.
As a direct result of these rising production costs, roughly 3/4 of businesses are seeing spikes in prices for their consumers.
Shay then called upon Uncle Joe to show “strong leadership” in resolving the issues with the current supply chain issues:
We continue to work with key executives at the ports and with our transportation providers. We need strong leadership from the administration to galvanize attention to the current situation as well as work to resolve long-standing issues that limit safe and efficient port operations. As the administration undergoes supply chain reviews for critical sectors, including transportation, addressing the current state of our nation’s ports and freight movement needs to be a critical component of the strategy. As trade continues to grow, we need to make sure we have truly 21st century ports and freight movement. This certainly is central to the administration’s Build Back Better approach.
The letter from the National Retail Federation comes forth just as federal lawmakers continue their debate of Uncle Joe’s American Jobs Plan, which seeks to propose over $2 trillion in spending on infrastructure. A group of Congressional Republicans made note of the fact that much of the bill put forth by Uncle Joe is currently devoted to education and welfare programs rather than focusses on roads, bridges, and ports.
“This is our chance to expand our idea of what infrastructure means,” stated Sen. Elizabeth Warren (D-MA).