Port workers strike could paralyze U.S. trade

A strike by workers at more than 30 ports on the East Coast of the United States, through which a quarter of American exports and imports pass, could paralyze the country’s trade.

A shutdown of the ports would “paralyze trade” of the United States by “halting imports of food, pharmaceuticals, consumer electronics and clothing”. Analysts of the U.S. bank JPMorgan, interviewed by the publication, believe that the downtime of U.S. ports can cause daily damage to the U.S. economy in the amount of $5 billion.

At the same time, experts note that if the strike lasts no more than two weeks, only the most port-dependent areas, such as the city of Savannah (Georgia), will suffer significant losses. If the strike lasts longer, it will lead to shortages of goods and price increases throughout the country. Food and automobiles will be most affected.

Earlier it was reported that tens of thousands of port loaders on the East Coast of the United States began a strike, leaving their workplaces after midnight on October 1. The reason for the strike was the fact that the International Association of port movers and representatives of the U.S. shipping industry could not agree on a new agreement on the terms and conditions of labor and pay.

The White House urged the USMX Port Operators Association to settle the differences with the union as soon as possible. US President Joe Biden said he did not intend to intervene and do anything to prevent the strike.