It's official. As of midnight, Port workers on the East and Gulf Coasts are on strike after failing to reach a deal late Monday.
"The International Longshoremen's Association (ILA), which represents 45,000 dockworkers, began its first strike since 1977 after its six-year contract with the U.S. Maritime Alliance (USMX), which represents port employers, expired Monday night," Fox Business reports. "Negotiations between the ILA and USMX have been deadlocked thus far over the union's demands related to wage hikes and compensation, as well as protection from automation at ports."
So, how much is this going to cost the American economy?
“J.P. Morgan estimated the daily cost of a port strike by East and Gulf Coast port workers would cost the U.S. economy between $3.8 billion and $4.5 billion per day as operations slow.” https://t.co/eiB1inVAia
— Lucas Tomlinson (@LucasFoxNews) October 1, 2024
The US American dock strike is expected to cost the US Economy up to $5 billion per day in lost trade, and sharply raise prices for consumer goods, per FT
— unusual_whales (@unusual_whales) October 1, 2024
Store shelves are also expected to start going bare.
🚨🚨🚨There is a strike on the verge of happening Tuesday Oct 1 that could cripple our economy and could leave store shelves bare by shutting down ports that handle 68% of our country’s containerized exports and 56% of containerized imports.
— Rep. Marjorie Taylor Greene🇺🇸 (@RepMTG) September 27, 2024
For every single day they strike it… pic.twitter.com/aJSG6qetAZ
When asked about missile strikes in Yemen by reporters Monday, Biden got confused and answered as if he was asked about the port strike. Biden sided with the union and endorsed collective bargaining. Biden is refusing to enforce the Taft-Harley Act to keep the ports operable.
REPORTER: "Any comment on the strikes in Yemen, Mr. President!?"
— RNC Research (@RNCResearch) September 30, 2024
BIDEN (or whatever's left of him): "I've spoken to both sides. They gotta settle the strike. I'm supporting the collective bargaining effort. I think they'll settle the strike."
🤔 pic.twitter.com/iFawNWdWyH