(TruthandLiberty.com) – For someone who claimed you can’t govern through Executive Order (EO) during the Trump era, President Biden has signed his fair share. Now, the president looks to use his executive might to avert a crisis with the supply chain. The question is: Will it actually help?
THR: Report: President Joe Biden’s Executive Order Won’t Help Supply Chain Crisis https://t.co/PIRu23ubM0 (BB)
— HWDRepublican (@HWDRepublican) July 15, 2021
In the beginning of July, President Biden signed an EO in an effort to boost competition in the nation’s economy and avert a supply chain crisis. However, critics believe the EO is not what the economy needs, stating we should focus on a free market, not regulations.
President Biden had tried to put the blame on ocean liners, but John Butler, president and CEO of the World Shipping Council (WSC), says no single supply chain actor is responsible for the crisis. Butler added that US supply chains simply cannot deal with the spike in demand, which is causing delays, capacity shortages and shipping disruptions. The CEO asserted that everyone is trying to clear the kink, but as long as US businesses and consumers keep a high demand for imports, there will be a challenge.
The council explained that lack of competition isn’t the cause of the freight rate surge. Instead it’s being caused by post-coronavirus bottlenecks as well as an imbalance in supply and demand.
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