U.S. East Coast port union strike threat to test shippers' nerves

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https://www.reuters.com/markets/us-east-coast-port-union-strike-threat-test-shippers-nerves-2024-06-13/

U.S. East Coast port union strike threat to test shippers' nerves

By Reuters
June 12, 2024 8:18 PM EDT Updated 10 hours ago

June 12 (Reuters) - - Labor talks at U.S. ports on the East Coast and Gulf of Mexico are a looming risk for retailers, manufacturers and other shippers already grappling with longer transit times and higher costs.

The International Longshoremen's Association contract covering 45,000 dockworkers at three dozen ports stretching from Maine to Texas expires on Sept. 30. If there is no deal by then, the union could call a strike that would hit during the vital holiday container shipping season and labor-friendly U.S. President Joe Biden's bid for reelection.

[...]

ILA President Harold Daggett previously warned that members would strike if a deal is not reached before the current contract lapses. He has alerted locals at vital trade hubs like New York/New Jersey and Houston to be ready to strike on Oct. 1, the union said.

Seaport labor strikes are rare in the United States, but noise and anxiety during contract talks runs high. That's because any work slowdown or stoppage would affect billions of dollars of products ranging from food and medicine to furniture and factory equipment.

[...]

[sanatanadharma]

1. "... work slowdown or stoppage would affect billions of dollars of products ..."

Can't interfere with trade and commerce and profit and the illusion that supermarkets are magically stocked overnight and all is right in the world of consumers, known by Wall Street as "marks'.

Accepting the truth of this statement, "... work slowdown or stoppage would affect billions of dollars of products ranging from food and medicine to furniture and factory equipment. ...", shows that the work and workers of ports are more valuable to everybody in the US than we acknowledge.
Like we treat teachers, so-called 'longshoremen' work is undervalued; true too harvesters and roofers and construction and on and on.