Covid-related manufacturing closures, energy problems, and port capacity constraints have all eased in Asia in recent weeks. Major retailers in the United States claim they’ve imported the majority of what they’ll need for the holidays. Sea freight rates have dropped from all-time highs.
Nonetheless, business leaders and economists warn that strong consumer demand in the West, continued port congestion in the United States, truck driver shortages, and high global freight prices continue to loom over any rebound. More harsh weather and flare-ups of Covid-19 cases have the potential to bottleneck supply lines once more.