global-trade-supply-chain-disruptions3.675 min read "Expert: Red Sea Crisis Worsens, Impacting Global Shipping and Commodities"
Logistics experts warn that the Houthi attacks in the Red Sea and the drought in the Panama Canal are causing significant disruptions to global trade, leading to product delays, shrinkflation, and higher costs for consumers. The attacks in the Red Sea and the drought in the Panama Canal are hindering trade routes and impacting supply chains, with potential scarcity of goods and higher costs for electronics, appliances, furniture, and oil. Experts anticipate greater impact on North America in the coming weeks, with retailers likely to announce shipment delays and resort to shrinkflation to offset losses. The issues are expected to persist until the Red Sea attacks cease and rain falls in Panama, prompting a need for advanced technology and digital supply chains to increase agility in an uncertain world.
1 year ago•Source: Fox Business
