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Thousands of U.S. East and Gulf port dockworkers went on strike in the early morning hours of 1 October 2024 following inconclusive labor negotiations between the International Longshoremen’s Association (ILA), which represents 45,000 dockworkers, and the U.S. Maritime Alliance (USMX), which represents the 36 ports affected stretching from Texas to Maine. Union members are striking at 21 out of 36 of those ports.
The implications of a strike could be significant for the global supply chain. The Conference Board, a New York-based think tank, estimates that just one week of shut down could cost the economy $3.78 billion and increase the cost of consumer goods.
The ports that are the focus of the strike handle more than 68% of containerized exports and 56% of imports for the nation, with a daily trade value of $2.1 billion, according to a letter released Monday from the U.S. Chamber of Commerce. The letter urges President Biden to enact Taft-Hartley to prevent the work strike, which he did not.
“Americans experienced the pain of delays and shortages of goods during the pandemic-era supply chain backlogs in 2021,” U.S. Chamber of Commerce CEO and President Suzanne P. Clark stated in the letter. “It would be unconscionable to allow a contract dispute to inflict such a shock to our economy.”
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