
"Global Retailers and Business Leaders Warn of Shipping Delays and Price Spikes Amid Red Sea Tensions"
U.S. retailers are concerned about potential disruptions and uncertainty in the industry due to significantly delayed shipping times and pricing spikes caused by Iran-backed Houthi attacks in the Red Sea. The conflict is making it difficult for retailers to negotiate shipping contracts, and there are fears that these issues could impact back-to-school and holiday shopping. The National Retail Federation CEO called for a global coalition, including China, to address the challenges and urged for a quick solution. Discussions between China and Iran regarding the attacks and trade have reportedly taken place, as China is Iran's biggest trade partner. Additionally, challenges in other key shipping areas such as the Suez Canal, Ukraine, and the Panama Canal are also causing concerns for retailers.


