"The Biggest Wild Card In The Presidential Election": Just Days Left Until A Crippling Port Strike Paralyzes The East Coast
The looming port strike that could shut down all East and Gulf Coast ports just 36 days before the election.” With just over a week to go until D-Day, authorities are gearing up as a threatened strike by dockworkers at ports along the East Coast and Gulf Coast draws closer.
Late last week, the CEO of Flexport - one of largest US supply-chain logistics operators - warned that "the biggest wild card in the presidential election that nobody’s talking about?
The Port Authority of New York and New Jersey is "coordinating with partners across the supply chain to prepare for any impacts" from a possible work stoppage by workers represented by the International Longshoremen's Association as they negotiate with the United States Maritime Alliance (USMX), a Port Authority spokesperson told CBS MoneyWatch on Friday.
The ILA has threatened to strike if a new labor agreement with East Coast port terminal and shipping companies represented by the USMX is not reached by the time the current contract expires on October 1.
Port trade is around $2.12trn, and 72% would grind to a halt, a one-day strike reportedly taking six days to recover from, a one-week strike in October creating bottlenecks until mid-November, not factoring in Red Sea disruptions caused by the not-terrorist Houthis."
"At the same time, ocean carriers are beginning to put essentially embargoes on export cargo "so that it doesn't come into East and Gulf coast ports and then wind up sitting there," she said.
"There will be a shutdown, assuming that there's is no intervention, at midnight on Monday the 30th," Bethann Rooney, director of the Port Authority of New York and New Jersey, the nation's second-busiest port, told a briefing earlier in the week.
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