Dockworkers at all major US East and Gulf coast ports have initiated a strike for the first time in nearly 50 years, impacting 36 key ports that manage up to 50% of US trade. Container and auto shipments have been halted, while energy supplies and bulk cargo remain unaffected.
The strike is jeopardizing $2.1 billion in trade daily and could lead to a total economic loss of up to $5 billion a day in GDP, according to industry estimates. With no immediate resolution in sight, the potential ripple effects on global trade are substantial.
As the International Longshoremen’s Association negotiates for higher wages and a rollback on automation, the economic cost of the strike—estimated between $3.8 billion and $4.5 billion per day—continues to grow. Shipping congestion from a week-long strike could take up to a month to clear, raising concerns across global supply chains.
