House Speaker Nancy Pelosi says the U.S. government needs to intervene in the supply chain problems hurting the U.S. economy and the lack of manpower at U.S. ports.
In California, U.S. ports are reportedly operating at 60%-70% capacity. In addition, supply chain issues have delayed production of many types of products, including vehicles. Prices are rising, in part, due to the supply chain problems and inflation.
“As the global economic recovery continues to gather steam, what is increasingly apparent is how it will be stymied by supply-chain disruptions that are now showing up at every corner” of the economy, Moody’s Analytics warned in a report Monday.
Dealers across the country are adding “market adjustment” fees on top of the retail price of vehicles as a result of the shortage of new cars on their lots.
The “shortages and delays have become a source of concern about fair competition,” according to a New York Times report on supply chain problems during the pandemic heading into the holiday season.
Major retailers like Target and Home Depot are chartering their own ships as a way to get around the supply chain issues. The ships costs millions of dollars to lease, which is not a viable option for smaller-sized companies.
Pelosi, a California Democrat, was asked if the federal government is going to address the supply chain problems and the delays moving products at U.S. ports.
“The supply chain is not just an issue about what happens here,” Pelosi said at a news conference at the Capitol on Tuesday. “The supply chain is an issue globally, and that was something we talked about at the meeting because there are obstructions in other countries of product, even making it to the ships to come to our country.” Pelosi was referring to her meetings with foreign leaders at the G20 Parliamentary Speakers’ Summit and the NATO Parliamentary Assembly.
“Yeah, we’ve got to address that issue because it has a direct impact on everything because we’re so dependent on global trade and our trade going out as well,” she added.
