Formula Shortage -Real or Conspiracy?

I'm sure by now we've all heard about the formula shortage in the U.S.

 whether or not you have children yourself you've definitely seen or heard something. I myself have recently had a child and have witnessed the shortages in my area. I will say it's lead me to this one question, is this really a shortage due to restrictions on trade policies with Europe and Canada? Or is this something else ??
Seems odd to me that the shortages affect the public but not the hospitals or government services such as WIC. Now I'm not saying we don't need such services or that we don't need hospitals to be fully stocked with formula, we definitely do for some families. I'm just asking a question based on my own personal observations of this shortage. If you'll remember the shortages that plagued Americans during the shutdowns for COVID-19, suddenly there wasn't enough of anything such as basic supplies like toilet paper. I'm also aware that around the same time many Americans lost there jobs, including those at the factories making these basic products.
If you'll remember that was resolved with temp to hire workers which many big companies used during this time. So once again I'm left wondering what the hell is really going on? Is it really due to trade deals with Canada and Europe or is this truly the repercussions of the poor decisions made during COVID-19 in the United States? 
Just my thoughts