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US Dockworkers Start Massive Strike

Workers picket outside of the APM container terminal at the Port of Newark in Newark, New Jersey, US, on Tuesday, Oct. 1, 2024.

Michael Nagle / Bloomberg / Getty Images

KEY TAKEAWAYS

  • U.S. dockworkers at 14 ports stretching from Maine to Texas handling more than 68% of the country's imports started to strike.
  • The strike threatens to hurt most shipments at East and Gulf Coast ports and accelerate inflation through potentially snarled supply chains.
  • Members of the International Longshoremen's Association (ILA) walked out after the midnight expiration of their contract with the United States Maritime Alliance, which represents large shipping lines.
  • ILA President Harold Daggett said the union is "prepared to fight as long as necessary."

澳洲幸运5官方开奖结果体彩网:

U.S. dockworkers at 14 ports stretching from Maine to Texas handling more than 68% of the country's imports started to strike, hurting most shipments at East and Gulf Coast ports and threatening to accelerate inflation through potentially 🅠snarled supply chains.

Members of the International Longshoremen's Association (ILA) walked out after the midnight expiration of their contract with the United States Maritime Alliance, which represents large shipping lines.

ILA President Harold Daggett said in a statement on the union's Facebook site that it is "prepared to fight as long as necessary, to stay out on strike for whatever period of time it takes, to get the wages and protections against automation our ILA members deserve."

ILA ♍Seeks Higher Pay, Labor Protections Against Automꦐation

The ILA, whose strike is its first in almost 50 years, is seeking higher pay and labor protections against the use of automation at the ports. The union said it has more than 85,000 members, although its annual report to the Labor Department showed just over 47,000 active members at the end of 2023.

The United States Maritime Alliance didn't immediately return an Investopedia request for comment.

Maersk Warns Strike May Hurt Supply Chains

In a statement Tuesday, European shipping giant A.P. Moller-Maersk said the strike will hurt supply chains. That could lead to "delays in cargo movement, increased costs, and logistical challenges for businesses relying on U.S. East Coast and Gulf ports," it said.

Maer🙈sk shares were down 5% in Danish trading Tuesday.

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