East and Gulf Coast Port Strike Threatens Holiday Supply Chains

The dockworkers' strike has halted operations at major U.S. ports, raising concerns about shortages and price hikes as the holiday season approaches.

About 45,000 dockworkers from the International Longshoremen's Association are striking for higher wages and a ban on automation at 36 ports.
The strike, the first since 1977, affects ports handling roughly half of the nation's cargo, including major hubs like New York/New Jersey and Houston.
President Biden has opted not to intervene under the Taft-Hartley Act, despite mounting pressure and potential economic fallout.
Retailers have prepared by stockpiling goods, but prolonged disruptions could lead to shortages, impacting holiday shopping and increasing costs for consumers.
The strike could cost the U.S. economy between $1 billion and $5 billion daily, with potential long-term effects on supply chains and inflation.