Cargo Ship Backlog Major Cause of Empty Shelves and More Expensive Goods
President Biden met with shipping companies and port executives to try to improve the bottleneck at sea that's led to massive supply shortages and higher prices. Dozens of container ships off the coast of Los Angeles are waiting their turn to unload, and there are concerns the delays may continue through the holidays. Big-box stores like Walmart, Home Depot, Target and thousands of small businesses all have containers waiting to be picked up. With the supply issues comes increased prices.