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10/19, 7:32 PM (Source: TeleTrader)
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WH: Biden satisfied with progress on supply chains

White House Press Secretary Jen Psaki told reporters on Tuesday that US President Joe Biden is satisfied so far that the progress continues to be made on resolving issues in supply chain disruptions, specifically the jams in American ports.

Psaki added that the reason behind cargo build-up in ports and the 20%-30% increase in freight volumes is due to high consumer demand from US residents who have been ordering more goods with the extra expendable resources they've gained as the economy recovered.

The spokeswoman also touched on the effect that global supply issues, such as truck driver shortages and halted manufacturing due to COVID-19, had on the flow of goods in America. However, she highlighted that the Los Angeles port was able to halve the number of goods sitting for over 13 days.

Breaking the News / LH