Sumary of Biden's supply chain plan will mostly help larger companies, say small-business owners:
- mall businesses are hopeful that shipping bottlenecks may begin to ease after President Joe Biden announced an initiative in which the congested port of Los Angeles will run “24/7.” But owners and experts warn that the ports are just one part of the supply chain logjam.
- “With the holidays coming up, you might be wondering if gifts you plan to buy will arrive on time,” Biden said at a news conference Wednesday.
- “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,” he said.
- The plan calls for the West Coast ports of Los Angeles and Long Beach, California, to operate night shifts for the next 90 days to help alleviate backlogs ahead of the critical holiday shopping season.
- “This supply chain crisis is hurting businesses and consumers alike, leading to inflation and shortages of key supplies,” Suzanne Clark, the president and CEO of the U.S. Chamber of Commerce, which participated in meetings with the White House to address the issues, said in a statement.
- Megan Gluth-Bohan, the CEO and owner of TRInternational Inc., a 30-employee chemical distribution company, said her customers have been clamoring for citric acid, caustic soda and propylene glycol for applications from industrial cleaning to beverages to the suspension fluid for vaccines, largely sourced from South Korea and Southeast Asia.
- “What the American public needs to understand is that this isn’t just for items that you get for Christmas shopping.
- The supply chain has been stretched, kinked and squeezed at every turn by the economic disruptions of the pandemic.