With ports strike imminent on East Coast, Gulf, truckers, rails are scrambling to move billions in cargo before midnight shutdown
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A strike by the International Longshoremen’s Association (ILA) is set to begin at 12:01 a.m. ET on October 1, 2024, affecting 14 major ports including New York/New Jersey, Baltimore, and Norfolk; nearly $14 billion in trade arrived at these ports last week, with $2.7 billion arriving on Friday alone; 54,456 TEUs were processed on Friday, valued at approximately $2.7 billion; the ILA represents 85,000 members and has suspended negotiations since June; the Biden administration has urged both parties to reach an agreement but will not intervene using the Taft-Hartley Act; a strike could cost the U.S. economy tens of billions of dollars, with potential daily impacts of $641 million for New York/New Jersey and $600 million for Virginia; major importers like Walmart, Amazon, and Anheuser-Busch are at risk of supply chain disruptions; logistics executives warn that delays could worsen post-strike, echoing past supply chain breakdowns during COVID-19.

#Ports #Strike #Economy #Logistics #Trade #Shipping #Ila #BidenAdministration #SupplyChain #Importers

https://www.cnbc.com/2024/09/30/ports-strike-truckers-rails-billions-in-cargo-shutdown.html