🚨 Dockworkers' Strike Hits 14 U.S. East and Gulf Coast Ports
45,000 dockworkers have officially gone on strike as of October 1st, affecting major ports from Boston to Houston. The disruption is expected to significantly impact supply chains, with recovery taking 5-7 days for every day of the strike. J.P. Morgan projects a potential $5 billion daily cost to the U.S. economy.
Despite last-minute negotiations, no agreement was reached between the United States Maritime Alliance (USMX) and the International Longshoremen’s Association (ILA). Concerns over automation and stagnant wages are at the heart of the dispute, marking the first East Coast dockworkers' walkout since 1977.
This strike could greatly impact the automotive aftermarket industry, risking up to $340M per day in lost imports. 25% of automotive parts flow through these affected ports, with ripple effects expected across other U.S. ports.
The Auto Care Association urges President Biden to work with both parties in reaching a resolution.
Read the full blog post here:
https://lnkd.in/e4gs2chn
#autocare #automotiveaftermarket #portstrikes
Sales Specialist at schaeffer oil
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