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Both sides say the tentative agreement will avoid a looming strike at midnight Jan. 15. The primary sticking point in talks between the International Longshoremen's Association and the Maritime Alliance was automation. The Maritime Alliance has said it was not seeking to implement automation to replace workers. The tentative agreement caps months of back-and-forth between the workers and the ports. The union says details of the agreement will not be released until rank-and-file workers are able to review it.

Persons: dockworkers, Harold Daggett, Morgan Organizations: U.S . Maritime Alliance, USMX, International Longshoremen's Association, Maritime Alliance, ILA Locations: Boston, Miami, Gulf, Mobile , Alabama, Houston, East, J.P

☆ US dockworkers struck a deal with their employers, averting a strike that could have crippled shipping
▼ + stars: | 2025-01-09 | by ( Kwan Wei Kevin Tan | Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

This deal averted a potential strike involving thousands of dockworkers. The strike would have crippled shipping lines along the East and Gulf Coasts. ADThe two sides said in a joint statement that this will allow them to avoid any work stoppages on January 15. The strike would have potentially paralyzed shipping lines along the East and Gulf Coasts. The strike ended when the union secured higher pay, while other contract negotiations continued, and members returned to work.

Persons: USMX, dockworkers, Donald Trump Organizations: Longshoremen's Association, US Maritime Alliance, Gulf Coasts, ILA, American Workers Locations: East, Gulf, Gulf Coasts

☆ Union dockworkers, port employers announce tentative deal at East Coast and Gulf ports
▼ + stars: | 2025-01-08 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

According to the ILA, full wage scale meetings will be called to review the deal followed by a ratification vote. The tentative agreement is on all items for a new six-year master contract. Sources familiar with the contract told CNBC the compromise on automation and semi-automation was key to the tentative agreement. Technology additions and labor have been reviewed and negotiated by the technology committee process used by the union and ports. In a separate release, Daggett credited President-elect Donald Trump's support as "key" to securing the tentative contract.

Persons: Harold Daggett, Dennis, John, Daggett, Donald Trump's, Trump, Stephen Lamar, Lamar Organizations: Port, International Longshoremen's Association, U.S . Maritime Alliance, Wednesday, ILA, USMX, CNBC, American Apparel and Footwear Association Locations: Port of Oakland, Oakland , California, East, Gulf

☆ Potentially crippling port strike averted after dockworkers, ports and shipping companies reach a tentative deal
▼ + stars: | 2025-01-08 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +4 min

CNN —A potentially crippling strike up and down America’s East and Gulf Coasts has been avoided – at least for now – after longshoremen and the shipping and port companies reached a tentative deal on a new contract Wednesday. Without a deal, the port workers were set to go on strike on the morning of January 16. “We are pleased to announce that ILA and USMX have reached a tentative agreement,” the two sides said in a joint statement. However, the contract gives the ILA guaranteed jobs directly associated with any new technology, the source said. Management had argued ports need to introduce technology to improve productivity – not to eliminate union jobs.

Persons: USMX, Wednesday’s, Joe Biden, It’s, Donald Trump, Harold Daggett, Trump, Chris Isidore Organizations: CNN, Gulf Coasts, United States Maritime Alliance, International Longshoremen’s Association, USMX, ILA, Workers, Management Locations: Gulf, Maine, Texas, East, USMX

☆ Talks to avert another potentially crippling port strike set to resume
▼ + stars: | 2025-01-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Negotiations aimed at heading off a new strike at the ports up and down America’s East and Gulf Coasts are set to resume Tuesday. In October ILA members went on strike, stopping the flow of much of the cargo and containers over those docks. The strike ended after only three days though, when a tentative agreement sent workers back to the docks. But it was silent on the issue of automation at the ports, a key issue in the strike. President Joe Biden had refused calls by many of the nation’s business groups to intervene and order the ILA members back to work during the October strike.

Persons: won’t, Joe Biden, Donald Trump, Harold Daggett, Trump, ” Organizations: New, New York CNN, United States Maritime Alliance, International Longshoremen’s Association, ILA, Management Locations: New York, Gulf, Maine, Texas, USMX

☆ ILA union and port owners held secret meeting on automation as new strike looms
▼ + stars: | 2025-01-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

A document produced out of the meeting indicates a focus on the creation of new human jobs to complement any new port technology. said a terminal operator. "These extra jobs are paid by increasing the price of services paid by the shipper," the terminal operator said. It remains unclear if the full USMX bargaining team will agree to document language on automation or risk another strike. "All of these decisions are controlled by the Daggett's in the end," said the terminal operator.

Persons: Paul Demaria, Kevin Price, Joe Ruddy, John Atkins, Anthony Ray, Harold Daggett, Dennis, Virgil Moldonado, Donald Trump, John Organizations: Norfolk International, NIT, International Longshoremen's Association, United States Maritime Alliance, CNBC, dockworkers, Gateway, GCT, Maher, ILA, NY Locations: Port of Virginia, Bayonne , New Jersey, of New York, New Jersey

☆ Shipping giant Maersk expects strong demand and 'another year of disruption' for global trade in 2025
▼ + stars: | 2024-12-13 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

But Van der Steene said shipping companies expect the volatility that has pervaded global trade since Covid to be back in 2025. "The e-commerce market has been surprisingly strong," said van der Steene. Maersk has started to see a progression of trade moving over to the West Coast, Van der Steene said. Red Sea diversions and the ILA strike contributed to delayed arrivals in 2024. "We will be quite prominently driving from that 58% all the way up to 90% in the course of 2025," Van der Steene said.

Persons: Van der Steene, van der, Charles van der Steene, Trump, Harold Daggett, Dennis Daggett, Daggett, USMX, Van der, Taft, Hartley, Biden, Trump's, Lloyd, van der Steene, van der Steen, Van Der Steene Organizations: Maersk, Maersk North, North, Central and, CNBC, Longshoremen's Association, National Retail Federation, Trump, ILA, United States Maritime Alliance, Gulf Coasts, Senior Biden, Gemini, Hapag, Gemini Alliance, Intelligence, U.S Locations: China, South Carolina, North American, Maersk North America, Maersk Halifax, Central and South America, Qingdao Port, Qingdao, Shandong Province, North America, East Coast, Gulf, U.S, Asia, West Coast, East, Gulf Coast, Mobile , Alabama, North, Germany, Red, Mexico

☆ The double threat of new Trump tariffs, wave of port strikes is coming for the supply chain in early 2025
▼ + stars: | 2024-11-19 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Uncertainty among U.S. shippers is escalating into 2025 with the expectation of new Trump tariffs and the possibility of a new ports strike that could begin in mid-January. The earliest new tariffs could be in effect is in late February or early March, according to an alert from C.H. Travel time for ocean freight from China to the East Coast and Gulf Coast ports is 40-55 days. He added that making these types of decisions has become part of the typical uncertainty that the supply chain needs to be prepared to face. "I was running a high-tech manufacturing operation before I took this job and we did manufacturing through China," Rhodes said.

Persons: Honour Lane Shipping, Robinson, USMX, Corey Rhodes, Rhodes Organizations: Trump, CNBC, Honour Lane, ILA, United States Maritime Alliance, Whirlpool, AB InBev, Danone Locations: Asia, Southern California, New England, Texas, China, East Coast, Gulf Coast

They also agreed in principle to bring new electric-vehicle battery plants into the national union contract. After negotiations broke down in early July 2023, Atlanta-based UPS reached a contract agreement with the Teamsters just days before an Aug. 1 deadline. The Culinary Workers Union announced on the social platform X that the deal came together after a year of negotiations. The lead up to the tentative agreement included a three-day strike involving 75,000 workers in multiple states. The tentative agreement also included protective terms around subcontracting and outsourcing, as well as initiatives to invest in the current workforce and address a staffing crisis.

Persons: Martin Luther King Jr, Bethany Khan, AFTRA, Longshoremen Organizations: Boeing, International Association of Machinists, Aerospace Workers, Cornell University's School of Industrial and Labor Relations, Cornell, Unions, UAW, Teamsters, Workers, United Auto Workers, Ford, General Motors, UPS, Teamsters UPS, Games, Screen, American Federation of Television, Radio Artists, Las Vegas Resorts, Culinary Workers Union, Las Vegas, MGM Resorts International, Caesars Entertainment, Wynn Resorts, Kaiser Permanente, Health Care Worker Unions Unions, Hollywood Studios, SAG, International Longshoremen’s Association, U.S . Maritime Alliance, Associated Press Locations: Seattle, America, Atlanta, housekeepers, Kaiser, California, U.S, East

☆ What a hot job market means for inflation
▼ + stars: | 2024-10-06 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —The US job market is still piping hot. That comes after the Federal Reserve last month cut interest rates by a jumbo half-point, signaling that it is turning its attention from tamping down inflation to keeping the job market steady. But some warn that a still-strong labor market could make it more difficult for inflation to continue cooling. That’s because a low unemployment rate and hot job market underline a strong American consumer, whose spending helps drive up the cost of goods and services. Consumer inflation eased to its slowest annual pace since February 2021 in August, continuing a trend of cooling down in recent months.

Persons: FactSet, ”, Seema Shah, “, Gina Bolvin Organizations: New, New York CNN, Bureau of Labor Statistics, Federal Reserve, Investors, “, Fed, Asset Management, Labor Statistics, Bolvin Wealth Management Group, International Longshoremen’s Association, United States Maritime Alliance Locations: New York, July’s, Israel, Iran, Russia, Ukraine

☆ 2020 is back on the 2024 campaign trail
▼ + stars: | 2024-10-06 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +8 min

pic.twitter.com/mcgmR3q0SU — Kamala Harris (@KamalaHarris) October 4, 2024Former Trump 2020 staffer Matt Wolking said the Harris' campaign focus on January 6 illustrates a return to the core of what made Biden's campaign struggle. Trump's campaign blamed the media for the renewed focus on January 6. "Did Kamala Harris censor Americans from speaking their mind in the wake of the 2020 COVID situation?" Harris' campaign soon cut what Walz described as Vance's "damning non-answer" into an attack ad. AdvertisementAsked again about his views on the 2020 election, Vance remained defiant after a Friday rally.

Persons: Donald Trump's, Kamala Harris, Liz Cheney, —, Trump, Harris, Cheney, Cassidy Hutchinson, Bob Lange, Donald Trump, mcgmR3q0SU — Kamala Harris, Matt Wolking, Kamala, Wolking, Biden, hasn't, Karoline Leavitt, Jack Smith's, Mike Pence, Sen, JD Vance, Ohio, Tim Walz, Tim, Vance, Walz Organizations: Service, Capitol, Trump, Republican Party, Business, Biden, Voters, PBS, Marist, United States Maritime Alliance, Washington Post, Gov, Tuesday's, GOP Locations: Ripon , Wisconsin, Trump's, Pennsylvania, Michigan , Wisconsin , Pennsylvania, Arizona, Washington, Ohio

☆ Here are all the winners in the port strike deal
▼ + stars: | 2024-10-05 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +7 min

New York CNN —The deal reached Thursday evening that ended a strike by 50,000 portworkers has a lot of winners and few if any losers. But that wage deal stopped what could have become the most disruptive US strike in decades had it lasted weeks or months. The strike halted the flow of imports and exports across dozens of ports, what could have been a massive blow had the strike continued. Not that this was the deal that the the United States Maritime Alliance, the group that negotiates on behalf of ship lines, terminal operators and ports, wanted. But it was the one they could settle for after the Biden administration made clear it wasn’t going to intervene.

Persons: portworkers, Harold Daggett, Daggett, Sal Mercogliano, “, ” Mercogliano, Mercogliano, Bryan R, Smith, Biden, Joe Biden, Taft, Hartley, Kamala Harris, Pete Buttigieg —, Democrats ’, Julie Su, ”, – Organizations: New, New York CNN, International Longshoremen’s Association, ILA, Campbell University, National Retail Federation, United States Maritime Alliance, Getty, Transportation, Democrats, Labor Locations: New York, West Coast, AFP, New Jersey

☆ A lasting U.S. ports strike deal is far from done, with automation a big hurdle in ILA/USMX negotiations
▼ + stars: | 2024-10-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Dockworkers strike in a picket line outside of the Port of Houston Authority on October 01, 2024 in Houston, Texas. The strike, affecting 36 ports, marked a historic event and was the first by the union since 1977. (Photo by Brandon Bell/Getty Images)The tentative agreement to suspend the International Longshoremen's Association strike may have consumers and businesses breathing a sigh of relief. In a statement Friday, the ILA said it wants to tighten the language related to the use of automation at ports. It is only a tentative agreement and automation at ports will remain a major stumbling block," said Peter Sand, chief shipping analyst at supply chain intelligence firm Xeneta.

Persons: Brandon Bell, Peter Sand, Harold Daggett, Daggett, Dennis Daggett, Harold Daggett's, that's, Sand, Dr, Michael Nacht, Larry Henry Organizations: Port, Houston Authority, International Longshoreman's Association, United States Maritime Alliance, International Longshoremen's Association, ILA, CNBC, Office, GAO, Public, University of California, Defense, ContainerTrac, International, Warehouse Union, Pacific Maritime Association Locations: Houston , Texas, U.S, Berkeley, Long Beach, Los Angeles , California, West Coast

☆ Maersk slumps 7% as the end of U.S. port strikes weighs on European shipping stocks
▼ + stars: | 2024-10-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

An aerial view of the Dundalk Marine Terminal October 03, 2024 in Baltimore, Maryland. Shares of Moller-Maersk slumped more than 8% on the Friday market open as European shipping companies fell on the conclusion of a U.S. port strike. A prolonged strike would have provided a boost for European shippers to take a larger share of global supply chain demands. Maersk shares pared losses slightly to trade down 7.05% by 9:05 a.m. London time. Thursday's deal ended a strike that had choked U.S. East Coast and Gulf Coast ports since the start of the week and threatened U.S. supply of fruits, pharmaceuticals and automobiles, among other goods.

Persons: Germany's Hapag Lloyd, Nagel Organizations: Dundalk Marine, Moller, Maersk, U.S, dockworkers, United States Maritime Alliance, International Longshoremen's Association Locations: Dundalk, Baltimore , Maryland, U.S, London, Swiss, East Coast, Gulf Coast

☆ Stocks making the biggest moves premarket: Spirit Airlines, Summit Therapeutics, Rivian and more
▼ + stars: | 2024-10-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Spirit Airlines , JetBlue – Spirit plunged more than 38% following a report from The Wall Street Journal that the discount airliner is considering filing for bankruptcy. Shares of peer airline firm JetBlue, which was previously in talks to merge with Spirit, advanced nearly 6%. Zim Integrated Shipping Services – The international shipping company's stock fell more than 9% after U.S. dockworkers and the United States Maritime Alliance agreed to a tentative deal to end the strike on the East Coast and Gulf Coast ports. CVS Health – The company's shares added 1.5% as it is considering breaking itself up and undergoing a strategic review of its business. Chubb – The insurance company slipped more than 1% after Bank of America downgraded shares to underperform from neutral.

Persons: Hapag, Lloyd, Rivian, Chubb, SilverCrest, —, Jesse Pound, Brian Evans, Hakyung Kim, Pia Singh, Michelle Fox Theobald Organizations: Spirit Airlines, JetBlue, Wall Street Journal, Food and Drug Administration, Zim Integrated Shipping Services, U.S, dockworkers, United States Maritime Alliance, CVS Health, CVS, Bank of America, SilverCrest Metals, Coeur Locations: East Coast, Gulf Coast

☆ CNBC Daily Open: Stocks can’t defy October’s gravity
▼ + stars: | 2024-10-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] How to play the jobs report The U.S. jobs report for September, coming out later today, will indicate if the economy will be able to achieve a soft landing or is headed toward a recession. Analysts at JPMorgan break down how the S&P 500 could react , depending on the number of jobs added for September. With the jobs report out in about 12 hours, it's too late for second guessing, in any case.

Persons: AI's, Nvidia's, Blackwell, Jensen Huang, Dow Jones, David Kelly, Kelly, it's, –, Jeff Cox, Alex Harring, Pia Singh Organizations: New York Stock Exchange, CNBC, JPMorgan, Nvidia, Port, U.S, International Longshoremen's Association, United States Maritime Alliance, Dow Jones Industrial, Nasdaq, Dow, U.S . Federal Reserve, Asset Management Locations: New York City, U.S, East, Gulf Coast

☆ Stocks making the biggest moves midday: Rivian, Abercrombie & Fitch, CVS, Spirit Airlines and more
▼ + stars: | 2024-10-04 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Abercrombie & Fitch - Shares of the teen apparel retailer jumped nearly 8% after JPMorgan added it to its positive catalyst watch list. JetBlue shares jumped more than 15% on the news. Summit Therapeutics – The biopharmaceutical company added 2%. Other international shipping stocks saw losses as well, including Danish shipping giant Maersk at 5% . CVS Health — The company's shares added 3.3%.

Persons: Abercrombie &, Matthew Boss, Hollister, Tencent, — CNBC's Sean Conlon, Hakyung Kim, Christina Cheddar, Berk, Lisa Kailai Han Organizations: Abercrombie, Abercrombie & Fitch, JPMorgan, Spirit Airlines, JetBlue Airways —, Wall Street, JetBlue, Vistra, Nvidia, Therapeutics, Drug Administration, Ubisoft Entertainment, Bloomberg News, Ubisoft, SilverCrest Metals, Mining, Zim Integrated Shipping Services —, U.S, dockworkers, United States Maritime Alliance, Maersk, CVS Health, CNBC, CVS

☆ The port strike is over. Here’s what happens next
▼ + stars: | 2024-10-04 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

Then union members will get additional $4-per-hour raises every year during the life of the six-year tentative deal. The union had been willing to consider the $4-an-hour deal before the strike, union boss Harold Daggett said on the picket line outside the Port of New York and New Jersey early Tuesday, soon after the start of the strike. Thursday’s deal likely is the end of the strike, but it doesn’t close the door on a new strike in the future. Should the members vote against the deal, the strike might start once again. But union members voted nearly unanimously to reject it and have remained on strike since September 13.

Persons: Harold Daggett, Bryan R, Smith, Helene, Bethann Rooney, ”, Rooney Organizations: New, New York CNN, United, International Longshoremen’s Association, United States Maritime Alliance, Getty, Port Authority of New, Hurricane Sandy, International Association of Machinists, Boeing Locations: New York, United States, East, Gulf Coast, Port of New York, New Jersey, Maine, Texas, Virginia, Port Newark, AFP, Port Authority of New York, Port, NY, NJ, Hurricane

Days after thousands of dockworkers went on the biggest strike in decades, the union announced a tentative agreement on wages Thursday and extended a deadline for bargaining. "The International Longshoremen’s Association and the United States Maritime Alliance, Ltd. have reached a tentative agreement on wages," the union and the alliance said in a joint statement. "Effective immediately, all current job actions will cease and all work covered by the Master Contract will resume," the union said. The International Longshoremen’s Association, known as the ILA, argued that big global cargo carriers have raked in huge profits since pandemic-era supply-chain snags drove up freight rates, and that workers haven’t sufficiently shared in those gains. United States Maritime Alliance, or USMX, represents major ocean freight and port operators.

Persons: dockworkers, snags, haven’t Organizations: Longshoremen’s Association, United States Maritime Alliance, Ltd, ILA

☆ Ship queue grows at U.S. ports as dockworker strike enters third day
▼ + stars: | 2024-10-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

One alternative would be to sail to West Coast ports on the other side of the country, likely using the Panama Canal, a journey of thousands of miles that would hike costs and add weeks to delivery times. Bryan R. Smith / AFP - Getty Images fileThe ILA is seeking a big pay raise along with commitments to halt port automation projects it fears will kill jobs. The USMX had offered a 50% pay bump, but the ILA said it was insufficient to address its concerns. The strike affects 36 ports — including New York, Baltimore and Houston — that handle a range of containerized goods. Biden’s administration has repeatedly said it will not use federal powers to halt the strike.

Persons: ”, Everstream’s Jena Santoro, Bryan R, Smith, USMX, ” USMX, “, Joe Biden’s, Morgan Stanley Organizations: International Longshoremen’s Association, Reuters, ILA, United States Maritime Alliance, Getty, Houston, National Retail Federation Locations: U.S, East Coast, Gulf Coast, West Coast, Panama, Maine, Texas, Bayonne , New Jersey, AFP, New York, Baltimore

☆ Sources: Striking port workers to return to work Friday as negotiators reach an agreement on wages
▼ + stars: | 2024-10-03 | by ( Vanessa Yurkevich | Chris Isidore | ) edition.cnn.com time to read: +4 min

Terms of the tentative deal on wages were not immediately available Thursday evening. A tentative deal would still need to be ratified by the rank-and-file ILA members before it would take effect. But with ships stuck at sea unable to come into US ports to unload and load goods, the union has agreed to have workers return to work on Friday. Still, should the members vote against the deal, the strike might start once again. But union members voted nearly unanimously to reject it and have remained on strike since September 13.

Persons: Biden, Joe Biden, Taft, Hartley, Kamala Harris, Transportation Pete Buttigieg, John McCown, containerization, USMX, Harold Daggett, Daggett Organizations: New, New York CNN —, International Longshoremen’s Association, United States Maritime Alliance, International Association of Machinists, Boeing, Business, Transportation, ILA, Shipping Locations: New York, Maine, Texas, United States

☆ Dockworkers on the East and Gulf Coasts have agreed to suspend the strike after reaching a deal for better pay
▼ + stars: | 2024-10-03 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

The International Longshoremen's Association and the United States Maritime Alliance reached a deal. Port employers and striking dockworkers reached a tentative agreement on wages, according to a joint statement. The strike will be suspended until January to allow time to work out the specifics of a new contract. The 62% increase would up the hourly rate for port workers from $39 to $63 in the coming years, according to the outlet. AdvertisementThe three-day strike shuttered ports across the East and Gulf Coast, disrupting the supply chain and impacting consumer items like fruits and car parts.

Persons: dockworkers, — Organizations: Longshoremen's Association, United States Maritime Alliance, Service, CNN, Associated Press, Street Journal, White, The, CBS News, International Longshoremen's Association Locations: Maine, Texas, West, East, Gulf

☆ Stock futures are little changed as Wall Street awaits September jobs report: Live updates
▼ + stars: | 2024-10-03 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

U.S. stock futures were flat on Thursday night as traders looked ahead to the widely anticipated release of September's jobs report on Friday morning. S&P 500 futures and Nasdaq 100 futures were also unchanged. These moves came after the major averages ended Thursday's trading session with losses. U.S. oil futures climbed about 5% Thursday, weighing on the major averages. Indeed, all three major averages are already on pace for weekly losses.

Persons: Dow Jones, Barbara Doran, I'd, it's, Doran Organizations: New York Stock Exchange, Dow Jones, Nasdaq, International Longshoremen's Association, United States Maritime Alliance, Dow, BD8 Capital Partners Locations: New York City . U.S, U.S, East, Iran, Israel

☆ A trifecta of global crises could snarl supply chains and increase prices
▼ + stars: | 2024-10-03 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

The dockworkers' strike threatens supply chains, while Hurricane Helene caused costly damage. Devastation from Hurricane Helene, a dockworkers' strike, and escalating conflict in the Middle East all threaten to scramble supply chains and inflate prices. How much the strike impacts prices depends on how much of a cushion companies have built to deal with any bottlenecks. Bottlenecks also encourage carriers to raise their prices, increasing retail and consumer goods prices, Kent said. The hurricane has also disrupted some supply chains, including healthcare supplies and high-purity quartz needed for semiconductor manufacturing.

Persons: Helene, —, Israel ramped, Douglas Kent, Dockworkers, dockworkers, Morgan Stanley, Kent, Fazili, Lauren Saidel, Baker, she's, Biden, Hurricane Helene, Adam Kamins Organizations: Service, Association for Supply Chain Management, JPMorgan, National Economic, Biden, ITR, International Longshoremen's Association —, United States Maritime Alliance, Homeowners Locations: Israel, Iran, Hurricane, Lebanon, Maine, Texas, East Coast, Gulf, Kent, West Coast, North Carolina, Florida

☆ Massive East Coast port strike: five things to know
▼ + stars: | 2024-10-03 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +6 min

New York CNN —A massive port strike along the East and Gulf Coasts that kicked off on Tuesday has the potential to become one of America’s most disruptive work stoppages in recent times. Here’s the latest information you need to know about the port strike. People are panic-buying toilet paper, reports on social media show, displaying empty store shelves where toilet paper and sometimes paper towels used to be. Unlike toilet paper, bananas go bad, so shippers weren’t able to ship large volumes in advance of strikes. On Wednesday, Biden starkly warned against the “man-made disaster” caused by the ongoing port strike and urged the two sides to come to an agreement to avoid significant economic impacts.

Persons: ”, Harold Daggett, Dockworkers, USMX, Biden, Joe Biden, Taft, Hartley, “, ” Biden, Kamala Harris, didn’t, Donald Trump’s, Trump, Kamala Harris ’, Joint Base Andrews, “ We’re, Betsy Klein, Allison Morrow, Chris Isidore, Vanessa Yurkevich, Kayla Tausche, Arlette Saenz Organizations: New, New York CNN, Gulf Coasts, International Longshoremen’s Association, United States Maritime Alliance, CNN, ILA, Anderson Economic, American Farm Bureau Federation, Democratic, ”, NLRB, American, Wednesday, Joint Base Locations: New York, East, USMX, Maine, Texas, Canada, Mexico, Taft, America

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