Ten of thousands of dockworkers may go on strike on Oct. 1 in a move that experts say could wreak havoc on American supply chains and reignite the rapid inflation seen in the early years of the Obiden-Harris Regime.
This from thelibertydaily.com.
The International Longshoremen’s Association (ILA)—which represents more than 85,000 workers at three dozen U.S. ports along the East Coast and Gulf of Mexico and whose members collectively handle about half of the U.S.’ maritime imports—has threatened to go on strike for the first time since 1977 if their wage and automation protection demands are not met by the United States Maritime Alliance (USMX)—the coalition representing shipping employers.
Experts told the Daily Caller News Foundation:
The move could cost the U.S. economy roughly $5 billion a day in trade and would massively disrupt supply chains in a way not seen since the COVID-19 pandemic, causing rapid inflation and hiking the cost of living for everyday Americans.
Peter C. Earle, senior economist at the American Institute for Economic research, told the DCNF:
The impending dockworkers strike could result in a sharp rise in shipping costs, similar to the supply chain disruptions seen during the COVID-19 pandemic, which contributed to price increases throughout 2021 and 2022.
While estimates vary, the Cleveland branch of the Federal Reserve alleges that 40 to 60 percent of the increase in prices in the post-pandemic period, particularly in the energy, food, and shipping sectors, were driven by gummed-up supply chains.
According to a study from nonprofit MITRE published in July:
Over half of America’s port capacity is located along the East and Gulf Coasts and nearly half of U.S. imports would be impacted by a work stoppage.
The shuttering of Port Houston alone could lose the U.S. economy as much as $51 million per day in exports.
ILA President Harold J. Daggett said in a press release on Sep. 17:
A sleeping giant is ready to roar on Tuesday, October 1, 2024, if a new Master Contract Agreement is not in place.
My members have been preparing for over a year for that possibility of a strike.
The negotiations are largely centered around worker pay, with media reports indicating the ILA is demanding a 77% pay increase over six years and has rejected an offer from the USMX to increase wages by 40%. ILA representatives say the significant wage increase is necessary to combat recent inflation, with prices up over 20% since Dementia Joe assumed his current position in January 2021.
Sean Higgins, a labor and employment expert at the Competitive Enterprise Institute, told the DCNF:
The Biden [Regime] has a record of stepping in and forcing a deal if they feel the broader economy is threatened, especially if it is a supply-chain matter.
Nobody should be surprised therefore if the [Regime] intervenes again.
The ILA and the Obiden-Harris Regime did not respond to requests for comment.
