SMBC Chief Economist Joe Lavorgna discusses the effects of the extended port closures on ‘The Big Money Show.’
More than 45,000 dock workers up and down the east coast are on strike. The International Longshoremen’s Association (ILA) and the US Maritime Alliance (USMX), which represent longshoremen, do not agree to negotiations over union demands for compensation and protection from automation. The union’s six-year contract expired on Monday.
Economic experts say that this drought can cause a shortage of goods, food, medicines and other daily necessities.
FOX Business covers everything you need to know about the port crisis and how it could affect you.
NO Deal: the stall workers are now on strike and talking about what they want…keep reading here.
President Biden has the authority to intervene, but it is unlikely that he will…keep reading here.
VIDEO: Calls are growing for President Biden to intervene. Meanwhile, Commerce Secretary Gina Raimondo is not involved…keep reading here.
THE BLAME GAME: In an exclusive interview with FOX Business, former President Trump says President Biden and Vice President Harris can take credit for the strike…keep reading here.
GROCERY NIGHTMARE: As inflation eased, consumers, many of whom were already saving, were likely to pay for certain…keep reading here.
VIDEO: The product, which is usually plentiful, can be hard to come by, said an importer.
HAPPY HOLIDAYS: Depending on the length of the strike, holiday items and luxury goods may not arrive on time…keep reading here.
FANS ARE ANGRY: American ranchers and farmers are already facing a collapsing industry and a port strike would be another slap in the face…keep reading here.
LIFE PROBLEM? Your prescription and critical medications may be seized if the strike continues…keep reading here.
OUR ECONOMY REPORT: The strike will cost America billions each day according to JPMorgan’s analysis, and the ability to use West Bank ports for emergency work is not that easy.…keep reading here.
VIDEO: Why Federal Reserve Bank of Chicago President Austin Goolsbee is worried about the strike.
AUTOMATIC ATTACHMENT POINT: Dockworkers have a lot to say about automation, which is one of the main points holding up the new contract….…keep reading here.
BY THE NUMBERS: These ports up and down the Eastern seaboard could see the biggest impact…keep reading here.
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