This article was originally published by Tyler Durden at ZeroHedge.
Late last week, the CEO of Flexport – one of the largest US supply-chain logistics operators – warned that “the biggest wild card in the presidential election that nobody’s talking about? The looming port strike that could shut down all East and Gulf Coast ports just 36 days before the election.”
The biggest wild card in the presidential election that nobody’s talking about? The looming port strike that could shut down all East and Gulf Coast ports just 36 days before the election. 🧵
— Ryan Petersen (@typesfast) September 18, 2024
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.
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.
“We urge both sides to find common ground and keep the cargo flowing for the good of the national economy,” added the spokesperson, noting that $240 billion in goods move through the two ports each year and that such trade supports more than 600,000 local jobs.
According to the union, a strike would affect ports from Maine to Texas, and cripple supply chains worse than the immediate aftermath of the covid shutdown. A stoppage – the first since 1977 – could involve up to 45,000 workers at ports that account for roughly 60% of U.S. shipping traffic, leading to a major disruption of shipments, Oxford Economics said in a report.
“Even a two-week strike could disrupt
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