Strikes at major eastern U.S. ports impact U.S. economy.

US media reported that dock workers at 14 major significant ports in the United States have officially initiated strikes, which will endanger the US economy and bring risks to the global supply chain. The transportation and warehouse industries are the first to experience the adverse effects.

Tens of thousands of workers in services related to port operations will face unpaid leave, which will further impact economic activities in surrounding regions. Additionally, commodities such as bananas, European wines, auto parts, furniture, cotton, wood and others are mostly imported from the East United States and the Gulf of Mexico. While the effects of a brief strike may be manageable, an extended strike may cause billions of dollars in losses and lead to cascading consequences, such as layoffs.

Bearing in mind the experience of supply chain disruptions and product shipment delays caused by the epidemic, companies have taken proactive responses in recent months. These measures include advance imports and shifting imports sources from the West to the United States, so that inventories can cope with temporary supply disruptions.

*Photo reference: https://www.usatoday.com/story/money/2024/10/03/port-workers-deal-to-end-strike-union-says/75504414007/