With less than a week remaining before a deadline, dockworkers represented by the International Longshoremen's Association (ILA) could strike if a new contract isn't reached with port employers. The potential work stoppage could severely impact the U.S. economy, as these ports handle half of the country's seaborne imports.
In less than a week, dockworkers at ports on the East and Gulf coasts have pledged to strike unless a new contract is reached. A work stoppage could severely disrupt the U.S. economy, and the dockworkers, represented by the International Longshoremen's Association , and port employers, represented by the U.S. Maritime Alliance , remain at an impasse over wages in a new contract. The ILA is negotiating on behalf of 45,000 dockworkers at three dozen U.S.
" Officials – including the biggest retail trade group in the nation – have pleaded for the Biden administration to get involved given the severity of the situation. JPMorgan estimated that for each day the ports are shut down, it will take roughly six days to clear the backlog. Analysts pegged the economic impact of a strike to about $5 billion per day, according to a research note published earlier this month.
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