TNI || New Delhi || 21st Oct 2021
Transportation Secretary of the U.S. Pete Buttigieg said in a statement on Wednesday that he expects disruptions within the trucking industry as long as the COVID-19 pandemic exists.
In an interview given to CNN, on being asked about the shortages in the trucking industry, Buttigieg said that there would be shocks to the system till the time the pandemic continues.
He had also said that the supply chain issues could continue till 2022 since companies are still struggling with regular disruptions.
Significantly, rating agency Moody confirmed that the pressure on the supply chain in the country is surely going to take time to subside, and with transportation costs increasing and shortage of commodities and goods, the consumer prices are bound to witness a surge.
The resumption of economic activities in some parts of the world has exposed the supply chain shortages as companies continue to scramble to get hold of workers, fuel to factories, and get shipping slots.
Last week, President Joe Biden had himself urged the private sector to support ease of supply chain blockages which might go on to disrupt the upcoming holiday season. Buttigieg adds that the private sector was not prepared to experience the resurgence of the economy that they have been experiencing.