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Cost of goods shipped to Canada expected to rise following Suez Canal disruption

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Shipping has resumed on the Suez Canal, but global trade woes linked to the COVID-19 pandemic are far from over — and supply chain disruptions may soon hit Canadian consumers if they haven’t already.

The world celebrated on Monday as tugboats dislodged a 400-metre-long container ship that had obstructed the canal for almost a week. But the knock-on impacts on global shipping could take weeks or months to unravel, experts have warned, as the blockage created a backlog of hundreds of vessels waiting in line to transit through the critical waterway, which accounts for around 12 per cent of global trade traffic.

Global's Anne Gaviola has the story.

For more info, please go to https://globalnews.ca/news/7725651/furniture-toilet-paper-shortage-price-increases-canada/

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Category
U.S. & Canada
Tags
economy, suez canal, canada
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