The effects of COVID, shipping issues and manufacturing delays are hitting US companies hard. New York Times reporters Jeanna Smialek and Madeleine Ngo report that a Florida company has 500 unfinished adult tricycles awaiting a $30 part made in Taiwan. Long-term solutions – such as increasing port efficiency and freight shipping capability – may not produce results until 2023. In the interim, consumers hoping to buy for the upcoming holiday season may face shortages, but experts hope reduced demand for consumer goods will help.
About the Authors
Jeanna Smialek covers the Federal Reserve and economics for The New York Times, where Madeleine Ngo is a reporter.
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