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‘Crisis even bigger than Covid’: American business owners are barely getting by
CNN • • general
Key Points:
- Jeff Vojta, CEO of Dilworth Coffee, faces unprecedented supply chain disruptions in 2024 due to a poor Brazilian coffee crop, global tariffs, the Iran war, and a Super El Niño, leading to soaring costs and uncertainty.
- Business owners nationwide report supply chain challenges worse than during the COVID-19 pandemic, with inflation and energy costs causing significant operational difficulties and unpredictability.
- Experts note that even if the Iran war ends, persistent issues like Russia’s diesel export ban, severe weather events, and maritime security threats will continue to strain global shipping and supply chains.
- Rising diesel prices and shipping delays have increased costs across the economy, contributing to core inflation spikes and forcing businesses to shorten planning horizons and absorb higher expenses.
- The volatile supply environment is causing acute pressure on small businesses, with leaders emphasizing the need for predictability amid ongoing disruptions that surpass those experienced during the pandemic.
