Retail experts say there’s still a lot of uncertainty about what the port closure in Baltimore means for the supply chain.
“And how are the other ports such as New York and New Jersey, Norfolk, Savannah, how are those ports going to be impacted because of the diversions we’re going to see,” Jonathan Gold of the National Retail Federation said.
It’s one of many questions that don’t have answers just yet as people still try to grasp the severity of what happened in Baltimore and its impacts on the economy.
“This port is responsible for over 51 million tons of foreign cargo. That's the largest in the country,” said Maryland Governor Wes Moore. “For everybody who was buying cars, everybody who was buying farm equipment, we're the largest port in country that does that. So, this is not just impacting Maryland.”
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In Connecticut, products sold in stores that are shipped can come through any one of those East Coast ports.
“We have to assess exactly, you know, how much of our retail product was included in there before we can make a general sort of prediction as to, you know, how this will get rerouted, where it'll get rerouted to,” Tim Phelan, president of the Connecticut Retail Network said.
It will take some time to figure out the supply chain fixes, which, could lead to higher prices and delays the longer the port is closed.
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“I think we’re kind of painted into a corner and we don’t really have a choice but to pay a little bit more,” Lisa Camera of New Haven said.
Allison Calkins says she’s not too worried about what impacts – if any - may head our way.
“I feel like it would be a temporary setback in all honesty,”
