This is ridiculous.
President Biden and Federal Trade Commission (FTC) is now asking nine major retailers to hand over detailed documents so they can better understand why the global supply chain issues are continuing to go unresolved and prices continue to surge.
This move suggests that the FTC along with President Biden believes that big businesses are engaging in anticompetitive practices instead of it being President Biden’s fault for the supply chain crisis.
According to Fox Business, the FTC is now asking Walmart, Amazon, Kroger, C&S Wholesale Grocers, Associated Wholesale Grocers, McLane, Procter & Gamble, Tyson Foods and Kraft Heinz to turn over “detailed information” within 45 days so they can “better understand” what causing supply chain issues.
“Supply chain disruptions are upending the provision and delivery of a wide array of goods, ranging from computer chips and medicines to meat and lumber. I am hopeful the FTC’s new 6(b) study will shed light on market conditions and business practices that may have worsened these disruptions or led to asymmetric effects,” said FTC Chair Lina Khan.
“The FTC also is requiring the companies to provide internal documents regarding the supply chain disruptions, including strategies related to supply chains; pricing; marketing and promotions; costs, profit margins and sales volumes; selection of suppliers and brands; and market shares,” the agency further explained.