The International Longshoremen’s Association's strike affecting major Eastern and Gulf Coast ports is projected to increase prices for goods like food and vehicles if prolonged. The strike impacts manufacturers of various products and could reduce U.S. GDP growth by ten basis points per week, according to economists. While West Coast ports may absorb some freight, prolonged delays could exacerbate inflation. Some businesses had anticipated the strike and stockpiled goods. If the strike lasts more than a few days, it could lead to price spikes, with food and vehicles the most impacted.
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00:00It's Benzinga, and here's what's on the block.
00:02The International Longshoremen's Association strike affecting major eastern and gulf coast
00:07ports is projected to increase prices for goods like food and vehicles if prolonged.
00:12The strike impacts manufacturers of various products and could reduce U.S. GDP growth
00:17by 10 basis points per week, according to economists.
00:21While west coast ports may absorb some fright, prolonged delays could exacerbate inflation.
00:26Some businesses had anticipated the strike and stockpiled goods.
00:30If the strike lasts more than a few days, it could lead to price spikes, with food and
00:34vehicles the most impacted.
00:36For all things money, visit Benzinga.com.