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The ILA members' strike, which consisted of over 47,000 port workers across the Atlantic and Gulf coasts, including 4,500 from New York and New Jersey, began on Tuesday, Oct. 1, as the union ...
Despite talk of the strike affecting hurricane recovery efforts, there was almost no impact on the flow of emergency supplies to storm victims. All of the ships calling on those ports are foreign ...
The strike is the first such work stoppage in 47 years, and is already causing congestion in maritime routes near Savannah, Ga., due to Hurricane Helene’s impact, CNBC reported.
What products will be affected by the port strike More than 75% of U.S. bananas arrive at ports handled by the International Longshoremen's Association, or ILA, according to the farm bureau.
The Anderson Economic Group estimated that the U.S. economy would lose $2.1 billion from a one-week strike, $1.5 billion due to the loss in value or degradation of items such as perishable goods, $400 million for transportation company losses, and $200 million in lost wages for the striking port workers.
A strike would effectively shut down three dozen locations at 14 port authorities along the East and Gulf coasts, causing shortages and driving up prices on a host of goods.
On Nike's earnings call this week, CFO Matt Friend said that the company is "watching the East Coast port strike really closely" but has not "baked anything in" when it comes to impact on margins.
A massive dockworker strike at seaports on the U.S. East and Gulf coasts is expected to wreak havoc on global supply chains and the economy, with American consumers likely to notice shortages of ...