Sec. Buttigieg on Supply Chain Crisis: This Is What Decades of Underinvestment Looks Like

EXCERPT:

BUTTIGIEG: "Look, when a port — for example, when the third largest container port in the world in China shuts down for two weeks and then all of the ships start moving all at once, we’re going to see an effect in the fall in the United States no matter what kinds of meetings the U.S. Secretary of Transportation is having. We’re talking about global imbalances in demand and supply. And as you’ve seen, you know, not only do there have to be a lot of pieces coming together, but also they are racing to keep up with demand. I worry that there may be a perception right now that our ports are going slower than they used to. And so I want to make sure everybody understands, our ports are moving more product than they ever have. It’s just that the demand is even higher. So even with the workers at our ports and through our supply chains doing a record level of movement, retail sales off the charts and on track for an all-time record high this year, it’s just not enough to keep up with demand. And again, that goes to long-term issues, because this is what decades of underinvestment looks like, and some of those short-term issues, because even though it’s mostly private companies, we find that we can help convene, broker, secure commitments and get some of these things moving."