Oddbean

Here’s what’s impacted as the dockworker strike halts US ports ========== Dockworkers at 14 major ports on the East Coast and Gulf region have gone on strike after the International Longshoremen’s Association (ILA) failed to reach a contract agreement with port ownership; approximately 45,000 ILA members are involved; the strike could cost the U.S. economy $4.5 billion per day according to JP Morgan; the shutdown affects 75% of the U.S. banana imports and over half of coffee, tea, beverages, and medical equipment supplies; ILA demands a 77% pay raise and protections against automation; the last strike by ILA was in 1977; USMX claims their offer includes a nearly 50% wage increase; analysts predict President Biden may eventually invoke the Taft-Hartley act to end the strike; the strike began on October 3, 2024. #Dockworkers #Strike #Ila #Usmx #Economy #Shipping #SupplyChain #LaborDispute #Biden #Ports https://fortune.com/2024/10/03/dockworkers-strike-ila-usmx-shipping/