'There's only nine shipping companies, nine, N-I-N-E, major ocean line shipping companies who ship from Asia to the United States,' Pres. Biden said.
President Joe Biden launched a renewed push Thursday to reduce the costs of shipping goods across oceans, a major challenge for retailers that the White House said has pushed up prices as the world emerges from the coronavirus pandemic.
The video features Biden sitting in the Oval Office, talking by speaker phone with the heads of Tractor Supply, Jo-Ann Stores and the American Farm Bureau Federation. "We're not a huge company, but that $100 million increase that they passed onto us is, you know, more than our entire profit," Jo-Ann Stores CEO Wade Miquelon told the president in the video.
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