A historic strike is underway at U.S. ports — and the impact on global supply chains could be huge
Publishing timestamp: 2024-10-01 11:29:33
Summary
A massive dockworker strike at seaports on the U.S. East and Gulf coasts is expected to disrupt global supply chains and the economy, potentially leading to shortages of popular products for American consumers. The strike, initiated by the International Longshoremen's Association, could have severe consequences on ships carrying billions of dollars of cargo. The strike is expected to last for one week, impacting vessels from Europe, the Mediterranean, and Asia. Danish shipping giant Maersk warned that a one-week shutdown could take four to six weeks to recover from, with significant backlogs and delays. Despite concerns, some economists believe that U.S. President Joe Biden may intervene and invoke back-to-work legislation to prevent major economic disruption.
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Keywords: joe biden, asia economy, world economy, politics, united states, trade, transportation, business news, breaking news: politics, u.s. economy, ap moeller - maersk a/s,