President Joe Biden on Tuesday (Nov. 9) met with leaders from Walmart, United Parcel Service, FedEx and Target, according to a Reuters report, in an effort to expedite deliveries and lower prices for consumers during the ongoing supply chain snafu that’s hindering all segments of the global economy.
Biden said in a video posted to Twitter that he is focused on finding solutions for the supply chain bottleneck heading into the holiday shopping season. He expressed confidence that shoppers will get the items they purchase in short order.
“You’re going to be able to get to the store, get to the outlets you’re looking for, get the products you need, the gifts you want. That’s what we’ve been working on,” Biden said in the 90-second video posted on Twitter.
Biden is scrambling to eliminate transportation bottlenecks across the U.S. and clean up shortages in semiconductors used for tech products and vehicles, all while dealing with rising prices and passing a spending bill to eliminate inflation in the long term.
A senior White House official told Reuters last month that “there will be things that people can’t get” in time for the holidays, and many experts in this arena say the problems aren’t likely to have a quick fix as the COVID-19 pandemic continues to spread across the country and around the world.
Related: Discounts Harder to Find Amid Supply Chain Bottleneck
The clogged-up supply chain and inflation are likely to keep prices higher and eliminate the traditional holiday shopping discounts. Walmart Inc., Costco Wholesale Corp. and Home Depot told The Wall Street Journal last month that the low inventory levels make it easier to keep their prices higher this year. Out-of-stock messages are up 172% from January 2020, according to Adobe, Inc., which tracks 18 categories, led by apparel, sporting goods, baby products and electronics.
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