The president of the Toy Association warned that the cost of gifts to children would increase by 10 percent this year in the midst of a crisis at an American port.
Steve Pasielb, President of the Toy Association, CaliforniaThe port, where 36% of US imports are imported, will be removed by mid-2022, making many parents unable to find gifts during the holiday season.
He said Fox news On Wednesday, the industry most likely to be affected by a shortage of goods is the toy industry.
“It’s the worst time of the year, the year-end and New Year holidays,” said Pasielb.
Pasierb added that it will take until the end of the second quarter of next year to resolve the crisis in California’s port, called the “American port,” especially in Los Angeles.
When large container ships are unloaded from the Port of Los Angeles (pictured) and Long Beach, they sit waiting for thousands of containers to be loaded onto trucks and trains, and dozens of large container ships are unloaded offshore on Wednesday. Wait for
Steve Pasielb, chairman of the Toy Association, said families need to plan their holiday purchases in advance, as some children’s gifts will be up to 10% higher this Christmas.
Yesterday, the White House warned that many popular toys might not be in time for Christmas (Photo: A couple buying the rest of the towels in the empty household goods department of Sears, El Paso, Texas on October 10).
The port is also just one part of the puzzle. The country needs more truck drivers, better infrastructure, and a supply chain that is not easily disrupted by pandemics and extreme weather events.
“We have a long way to go. It took us more than a year to get started,” Pasierb said.
The White House said it had set up a task force in June to address the issue, spokesman Jen Psaki told reporters Wednesday. She further blamed the pandemic of economic collapse and described the situation as “unavoidable.”
“I can’t make a prediction,” Psaki said of how long the supply chain bottleneck would last. But she said it was impractical to resolve the congestion of the problem overnight.
“The Supply Chain Task Force has been working 24 hours a day for months and months to address the challenges found in the supply chain. There are problems with ports. These have been increasing recently. “She said. ..
The White House has addressed the unprocessed portion by finalizing an agreement that the Port of Los Angeles will operate 24 hours a day, 7 days a week.
Due to a shortage of port workers and delivery drivers at the port, shipping delays are increasing.Photo: Los Angeles Harbor dock workers depart at the end of shit on October 13th
Night operations are expected to help eliminate log jams and reduce transportation delays for toasters, sneakers, bicycles, cars and more.
“Today’s announcement could be a game changer by increasing midnight business hours and opening up during less crowded hours when goods can move faster,” Biden said.
As his trillions of dollars on tax, economic, climate and infrastructure agendas have passed through the crucible of parliamentary negotiations, rising costs have cut into workers’ wages, hindered growth and criticized Biden for Republican criticism. Is driving.
Needless to say, the expansion of port operations was also an implicit perception that inflation continued at higher levels even after the economy began to resume from the coronavirus pandemic.
Companies were worried about a few months delay in container shipping in June, but the government formed a supply chain task force that month and appointed a port envoy to address this issue on August 27. bottom.
The president is also trying to use the predicament as a selling point for his policy plan, which is under parliamentary scrutiny.
“We have a longer perspective and build greater resilience to withstand the shocks that are seen many times each year, such as pandemics, extreme weather events, climate change, cyberattacks, and the risk of weather turmoil. You need to invest in that.’He said.
As the holiday season approaches, President Biden has announced that the Port of Los Angeles will be open 24 hours a day to reduce the unprocessed portion of the supply chain that delivers goods to the United States. Americans have seen delays in many consumer goods, including electronics, automobiles, lumber, toys, and more.
A sense of uncertainty is beginning to consume the attention of many Americans.
“The economy is in a very fragile and unprecedented place,” Betsey Stevenson, an economist at the University of Michigan, said on Twitter.
Prices have risen by more than 5%, trading of goods and services has slowed, and while delta variants endanger the coronavirus pandemic, more Americans are quitting their jobs.
“No one knows what will happen,” wrote Stevenson, a former member of the White House Economic Advisers under President Barack Obama.
Ports in Los Angeles and Long Beach, California account for 40 percent of all shipping containers entering the United States.
As of Tuesday, 64 vessels were moored at two ports, 80 waiting for docking and unloading, according to the Southern California Marine Exchange.
Commitments by Los Angeles Harbor operators, port workers, and some of the country’s largest retail and shipping companies are expected to help mitigate the backlog.
Walmart, FedEx, UPS, Target, Samsung and The Home Depot have promised to unload during off-peak hours, making the Port of Los Angeles easier to operate non-stop.
Long Beach Port has been operating 24 hours a day, 7 days a day for the past 3 weeks.
A cargo ship (pictured September 13) is waiting to berth at the congested Los Angeles Harbor
As of Monday, there were 62 vessels moored at Los Angeles Harbor (pictured) and Long Beach Harbor, and 81 vessels waiting for docking and unloading.
Prior to his speech, Biden also held a virtual roundtable meeting with group leaders such as Wal-Mart, FedEx Logistics, UPS, Target, Samsung Electronics North America, Teamsters Union and the United States Chamber of Commerce.
Republicans say Biden’s $ 1.9 trillion coronavirus bailout package has spurred higher prices.
According to a recent analysis released by investment bank Goldman Sachs, “supply-constrained commodities” accounted for 80% of this year’s inflation overshoot, as home and oil prices are driving inflationary pressure. , Political criticism continues.
Kentucky Senate Republican leader Mitch McConnell has made inflation one of his central criticisms of Biden. This shows that controlling prices may be essential for Democrats to retain parliamentary seats in next year’s elections.
“Democratic inflation is so terrible that the average American worker received a few percent increase last year, but their actual purchasing power declined,” McConnell said in a Senate speech last week.
“Even discount stores have to raise prices. Ask an American family about their last few trips to supermarkets, gas stations, and toy stores.
“Heaven forbids if they had to enter the housing or car market at any time these days.”
The Biden administration claims that the rise in inflation is temporary. Still, supply chain problems continue months after the economy resumes and begins to recover, as vaccines have reduced much of the risk of a pandemic.
The Bureau of Labor Statistics reported on Wednesday that consumer prices have risen 5.4% from a year ago.
This is well above the Federal Reserve’s 2 percent target. The main drivers of price increases in September were rising energy, food and shelter costs.
The consumer price index in September rose 5.4% from a year ago, slightly higher than the 5.3% rise in August, comparable to the rises in June and July.
Prices are rising for a wide range of key commodities as high inflation continues to hurt U.S. consumers
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