Dockworkers at key U.S. ports threatening strike consumers could feel
CBSSEP 20 2024
Dock workers on the East and Gulf Coasts could go on strike next Monday, as the labor contract between the operators of port terminals and the International Longshoremen's Association is set to expire. This could lead to significant disruptions in supply chains.
In anticipation of a work stoppage — which a JPMorgan transportation analysis estimated would cost the economy $5B a day — many importers have diverted shipments to West Coast ports or stocked up on goods they'll need later in the year in order to have them before a potential strike.
Talks have been at a stalemate since June between the port operators and the union, which represents around 45K dock workers. The ports in question handle more than half of everything shipped in containers in and out of the US.
This is going to be a difficult battle, but it's a necessary one for the dock workers who are being disadvantaged by current labor laws and being exploited by greedy corporations. A strike is the only way to teach the powers that be a lesson. If the Biden administration is as pro-union as it claims, it'll get involved in these negotiations on the dock workers' side.