Dockworkers along the East and Gulf coasts have pledged to strike unless a new contract is reached by October, prompting experts to warn higher prices and empty shelves could await consumers.
have pledged to strike unless a new contract is reached by October, prompting experts to warn higher prices and empty shelves could await consumers. The International Longshoremen’s Association is negotiating on behalf of 45,000 dockworkers at three dozen U.S. ports from Maine to Texas that collectively handle about half of the country’s seaborne imports.
The Retail Industry Leaders Association said in a statement that “retailers view this strike and its imminent disruption as a self-inflicted wound to the U.S. economy.” Even though retailers have made contingency plans to minimize its effects,”the longer a work stoppage goes on, the harder it will be to do so,” the RILA said.
SalSon Logistics CEO Jason Fisk told FOX Business that shoppers “should brace for a rise in prices for goods by the first quarter of 2025, or possibly even sooner.”
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