Oddbean

A historic strike is underway at U.S. ports — and the impact on global supply chains could be huge ========== A dockworker strike at U.S. East and Gulf Coast ports began on October 1, 2024, affecting 14 major ports and involving about 45,000 workers from the International Longshoremen’s Association (ILA); the strike is over wages and automation, following failed negotiations with the United States Maritime Alliance (USMX) before a September 30 deadline; Peter Sand from Xeneta warns that over 40% of containerized goods enter the U.S. through these ports, leading to potential shortages of products like fresh fruit; Maersk predicts a one-week shutdown could cause recovery delays of four to six weeks; economist Bradley Saunders suggests President Biden may intervene to prevent major disruptions; the Taft-Hartley Act allows the president to suspend strikes for national health or safety concerns. #Strike #Ports #SupplyChain #Economy #Labor #Shipping #Us #Ila #Maersk #Biden https://www.cnbc.com/2024/10/01/what-a-lengthy-us-port-strike-could-mean-for-global-supply-chains.html