The ongoing strike by the International Longshoremen’s Association is affecting ports that handle between 35 and 49 percent of all U.S. imports and exports. This work stoppage could have a significant impact on the American economy, with thousands of union dock and maritime workers participating in the strike.
The strike was initiated after the ILA rejected a wage-related counteroffer from the U.S. Maritime Alliance, the organization representing East and Gulf Coast longshore industry employers. Despite the USMX’s proposal to increase wages by nearly 50 percent, triple employer contributions to retirement plans, and address other issues, the ILA leadership decided to proceed with the strike.
The strike, the first of its kind since 1977, is expected to involve up to 50,000 members and could cause disruptions at 14 ports across the Atlantic and Gulf Coasts. This could result in delays in trade flows, impacting GDP growth and potentially leading to higher consumer and producer prices.
Industry experts have warned that the strike may affect the upcoming holiday season, prompting concerns about goods availability. The U.S. Chamber of Commerce has urged President Joe Biden to intervene using the Taft-Hartley Act to prevent further disruptions and bring both sides back to the negotiating table.
Despite the growing tension, President Biden has expressed reluctance to intervene, emphasizing the importance of collective bargaining. Various jurisdictions, including New York, are actively preparing for the strike to minimize its impact on essential goods and services. Please rewrite this sentence.
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