Ports all up and down the East Coast and along the Gulf Coast will shut down tonight at midnight if a labor agreement isn’t made between the International Longshoremen’s Association and the U.S. Maritime Alliance.
This strike at these 14 ports “will do serious damage to the functioning of the U.S. economy” according to logistic experts.
In practicality, prices will skyrocket for items at these shipping ports which have to transported in a more expensive way to get to their destinations.
Here’s more from CNBC:
With a potential strike at ports up and down the East Coast and along the Gulf Coast set to begin after midnight Monday, logistics executives tell CNBC the remaining hours are critical in moving out as much trade as possible before a shutdown that will do serious damage to the functioning of the U.S. economy.
Based on data from ImportGenius, which tracks the bills of lading — the digital receipts of cargo containers — a total of 54,456 twenty-foot equivalent units (TEUs) arrived on Friday at the 14 ports operating under the master contract between the International Longshoremen’s Association and the U.S. Maritime Alliance (USMX) which expires at midnight Monday.