President Biden spoke to CEOs of major U.S. retailers and logistics companies about ongoing efforts to address a supply chain crisis that has resulted in shipping delays and higher prices for consumers, a White House official said Tuesday.
Biden met with Walmart CEO Doug McMillion, Target CEO Brian Cornell, UPS CEO Carol Tome and FedEx CEO Fred Smith. The discussion centered on “Steps that government and the private sector can take to further strengthen our supply chains and build on steps we have already taken to speed up deliveries and lower prices,” the official said.
“During the talks, President Biden received updates from these private sector executives on the efforts they are making to accelerate throughput across our goods movement supply chain and discussed how shelves are growing this Christmas season thanks to the relentless efforts of. their businesses will be well stocked, as will the ports and workers ranging from dockers to truck drivers, railroad and warehouse workers, shop clerks and everyone in between, “added the official.
JAMIE DIMON SAYS SUPPLY CHAINS WILL NOT BE “NO PROBLEM NEXT YEAR”
The Biden government is under pressure to alleviate supply chain problems amid concerns over rising prices and inflation. The backlog resulted in White House officials warning of possible product shortages during the Christmas shopping season in the past few weeks.
“Target CEO Brian Cornell announced that we are ready to offer our guests a great shopping experience this holiday season,” the company said in a statement at the meeting.
The president highlighted the positive impact of the newly passed bipartisan infrastructure bill during his meeting with CEOs on Tuesday, added the White House official, noting that “historic investments made by the bipartisan infrastructure contract for our ports, roads, bridges, railways and other key components of our supply chain. “
The meeting came weeks after Biden announced a collaboration initiative with six companies – Walmart, UPS, FedEx, Samsung, Home Depot and Target – who agreed to extend their operating hours in response to supply chain issues. Biden also directed the ports of Los Angeles and Long Beach to switch to 24/7 operations to clear a cargo jam.
JAMIE DIMON SAYS SUPPLY CHAINS WILL NOT BE “NO PROBLEM NEXT YEAR”
Biden has urged the private sector to assist the federal government during the crisis and warned his government not to “call on them and urge them to act” if they fail to do so.
Fox News’ Patrick Ward contributed to this report.
