A dockworker strike at major U.S. East and Gulf Coast ports could disrupt global supply chains and increase consumer prices. The International Longshoremen's Association began the strike at fourteen key ports over wage and automation disputes. These ports handle $3 trillion in annual trade. Matthew Shay, CEO of the National Retail Federation, warned of economic consequences during the recovery, especially ahead of the holiday season. Economists fear renewed inflation, particularly for perishables such as coffee, frozen food, and bananas. The strike mirrors previous supply chain issues from the pandemic, with inflation risks growing the longer it persists.
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00:00It's Benzinga, and here's what's on the block.
00:02A dockworker strike at major U.S. East and Gulf Coast ports could disrupt global supply
00:07chains and increase consumer prices.
00:10The International Longshoremen's Association began the strike at 14 key ports over wage
00:15and automation disputes.
00:17These ports handle $3 trillion in annual trade.
00:21Matthew Shea, CEO of the National Retail Federation, warned of economic consequences during the
00:26recovery, especially ahead of the holiday season.
00:29This fear renewed inflation, particularly for perishables such as coffee, frozen food,
00:34and bananas.
00:35The strike mirrors previous supply chain issues from the pandemic, with inflation risks growing
00:40the longer it persists.
00:42For all things money, visit Benzinga.com.