US President Joe Biden met with CEOs of major retailers at the White House on Monday to learn about supply chain challenges during the busy holiday season.
The president said, “The business leaders we gather here today represent the broadest group of American shopping: brick and mortar and online stores, national and local grocery chains, our nation’s largest retailer, and toys, electronics and health supplies.” manufacturers and sellers,” the President said. ,
“I want to hear from each of you what you’re looking forward to this holiday season,” he told business leaders.
The Biden administration is struggling to fix supply chain problems, including backlogged ports and a lack of truck drivers to move goods across the country. Supply chain issues, a significant increase in fuel prices earlier this year and other factors have contributed to the rise in US inflation.
Walmart CEO Doug McMillan said, “While we’re all concerned about the supply chain, we have more inventory than we did a year ago, and we have the inventory we need to be able to support the business. “
He said virtually at the meeting, “We are seeing progress. Port and transit delays are improving.” According to McMillan, Walmart has seen a 26% increase in shipping containers through US ports in the past month.
Food Lion President Meg Haim said at the meeting that the company’s supply chain is “strong and robust, and we have enough products inside our stores for customers to choose from this holiday.”
Other participants at Monday’s meeting, both in person and virtual, were the CEOs of Best Buy, Samsung North America, Curate Retail Group, Todos Supermarkets, Etsy, Mattel, CVS Health and Kroger, the White House said.
Some information in this report has been received from the Associated Press and Reuters.