A trade association reveals the impact of the Red Sea crisis on the U.S. economy

An American trade association has revealed the significant impact of the Red Sea crisis on the U.S. economy.

Follow ups – Al-Khabar Al-Yemeni:

The American Apparel and Footwear Association stated that the Red Sea crisis is affecting the American economy, traders, workers, and consumers.

The administration of President Joe Biden called for action at the diplomatic, military and economic levels to put an end to the ongoing crisis in the Red Sea.

According to a report by the specialized American outlet “Sourcing Journal,” “as the threat of a second strike in Eastern ports and the Gulf coast looms, with no signs of abating the continuous crisis in the Red Sea, a prominent political voice in the apparel and footwear industry urged key stakeholders to put an end to the two interconnected issues that are bringing so much uncertainty to the supply chain.”

Pointing to the message conveyed by the American Apparel and Footwear Association to President Joe Biden, calling on the U.S. government to significantly increase its efforts to protect commercial shipping in the waterway torn apart by conflicts.

The report stated, “Retailers and brands have felt the pain of vessel diversions, particularly through escalating shipping rates that persisted throughout 2024, along with longer delivery times, adding an extra week to two weeks of waiting for delivery.”

It noted that as the apparel and footwear industries bear the brunt of extra costs and shortages, “Lamar” called on Biden’s administration to significantly expand the struggle to support the fundamental right to freedom of navigation.

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