Canadian West Coast port closed Monday as the International Longshore and Warehouse Union launched a labor strike, halting container traffic. This closure impacts around $800 million in daily trade, significantly affecting U.S. markets relying on Canadian ports for goods like chemicals, auto parts, and perishable foods. The contract expired in March, and talks stalled after a 96% strike approval vote in September. This disruption follows earlier strikes in Montreal, affecting 40% of East Coast traffic, and adds strain on U.S. West Coast ports handling diverted freight.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Canadian West Coast port closed Monday as the International Longshore and Warehouse Union
00:06launched a labor strike, halting container traffic.
00:09This closure impacts around 800 million in daily trade, with significant effects on U.S. markets,
00:14relying on Canadian ports for goods like chemicals, auto parts and perishable foods.
00:19The contract expired in March and talks stalled after a 96 percent strike approval vote in
00:25September.
00:26This distribution follows earlier strikes in Montreal, affecting 40 percent of East
00:30Coast traffic, and adds a strain on U.S. West Coast ports handling diverted freight.
00:34For all things money, visit Benzinga.com slash GSTV.