On Tuesday, the White House warned Americans that "there will be things you can't get" at Christmas time because there will be supply chain issues.
“At the same time, a lot of these goods are hopefully substitutable by other things […] I don’t think there’s any real reason to be panicked, but we all feel the frustration and there’s a certain need for patience to help get through a relatively short period of time,” an unnamed official told Reuters.
This honestly comes to no surprise considering shipping containers are backlogged at ports on both of the United Sates.
On Tuesday, Coresight Research Founder and CEO Deborah Weinswig predictedthat the supply chain crunch will cause issues into 2023.
“Let’s look at the math: It’s 14 days to get a container from APAC to the U.S. and 40 days for it to get back,” Weinswig told Yahoo Finance. “And we have a complete container misalignment right now. So that’s 80 days, we’re talking, in our opinion — we’re probably looking at Q1 2023 before all of those containers get back and realign.”
“This is not just a holiday challenge — which it is acute, probably the worst I’ve ever seen,” she added. “I think that this continues. And that is where we’re going to see innovation and new jobs created, but we’re still really short right now.”
Better get that holiday shopping done early this year, folks!
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