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Should US Retail Worry Much About the Red Sea Shipping Crisis?

February 7, 2024


Attacks on vessels by Yemen’s Houthi rebels in the Red Sea have disrupted international trade, threatening price hikes and shipment delays. Many importers are revisiting coping strategies tapped during the pandemic.

The Suez Canal is the main route for shipping from Asia to Europe and the East Coast of North America.

In December, IKEA became the first major retailer to indicate it was exploring other options to secure products after major shipping companies stopped sending vessels through the Suez Canal in response to the attacks by militants protesting against the Israel-Gaza war that started in October.

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