East and Gulf coast ports strike, with ILA longshoremen walking off job from New England to Texas, stranding billions in trade
Publishing timestamp: 2024-10-01 04:07:02
Summary
Approximately 50000 ILA union longshoremen went on strike at East Coast and Gulf Coast ports after failing to reach agreement with port ownership on a new contract. The strike could have significant impacts on the U.S. economy, supply chains, and various industries. The White House is working to bring both parties back to the bargaining table, but President Biden has vowed not to use existing labor laws to force workers back on the job.
Sentiment: MIXED
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Source: https://www.cnbc.com/2024/10/01/east-coast-ports-strike-ila-union-work-stop-billions-in-trade.html