How dockworker strike could reignite inflation
Oct 02, 2024
HOLYOKE, Mass. (WWLP) - A massive dockworker strike at seaports on the U.S. East and Gulf coasts is expected to wreak havoc on global supply chains and the economy.
Dockworkers join other unions in trying to fend off automation, or minimize the impact
Tens of thousands of dock workers walked off the job on Tuesday clogging dozens of ports raising concerns and consumer prices. The ports account for more than half of the nation's container imports, facilitating the transport of everything from toys to fresh fruit.
Supply chain experts say consumers won't see an immediate impact from the strike because most retailers stocked up on goods, moving ahead with shipments of holiday gift items. Unless the walkout lasts for multiple weeks, some of the products that could be impacted include:
Imported alcoholic beverages like beer and wine
Fruits like cherries and even more so bananas
Cars and auto parts and even machinery
If drawn out, the strike will force businesses to pay shippers for delays and cause goods to arrive late for peak holiday shopping season ultimately impacting delivery of anything from toys and artificial Christmas trees to cars, coffee, and fruit.
Retailers are hoping that the Biden Administration intervenes before a significant shift in the supply chain.
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