Another source: https://t.co/9mXVEvO2x3
— Unicus (@UnicusResearch) September 18, 2024
The looming strike by the International Longshoremen’s Association (ILA), set to begin October 1, poses a serious threat to ports along the East and Gulf coasts. Experts warn that this disruption could lead to significant supply chain shortages, exacerbating inflation as goods and raw materials become scarcer. The Federal Reserve, already wrestling with inflation, may find its efforts to stabilize prices further complicated by the fallout from this strike.
1. U.S. President Joe Biden does not intend to invoke a federal law to prevent a port strike on the East Coast and Gulf of Mexico if dockworkers fail to secure a new labor contract by an Oct. 1 deadline.
— Unicus (@UnicusResearch) September 29, 2024
3. The International Longshoremen’s Association (ILA) is negotiating on behalf of 45,000 dockworkers at three dozen U.S. ports from Maine to Texas that collectively handle about half of the country’s seaborne imports. pic.twitter.com/gm16S00eQC
— Unicus (@UnicusResearch) September 29, 2024
5. Their last contract, negotiated in 2018, included raises that have not kept pace with inflation. Harold Daggett has accused the maritime alliance of continuing to try to “low-ball” workers.
— Unicus (@UnicusResearch) September 29, 2024
9. In addition, the strike will only impact U.S. ports with ILA workers, primarily along the East and Gulf coasts. Notably, about 46% of containerized agricultural exports, or 16.6 million metric tons, depart from East Coast ports. Of these, nine major ports account for nearly…
— Unicus (@UnicusResearch) September 29, 2024
11. In total, 53% of U.S. waterborne agricultural imports, by volume, could be affected by an ILA strike, leading to a potential economic impact of over $1.1 billion per week. Collectively, the value of containerized agricultural products passing through ILA-controlled ports,… pic.twitter.com/benb5OzIJo
— Unicus (@UnicusResearch) September 29, 2024
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— Unicus (@UnicusResearch) September 29, 2024