The union: All ports on the US East Coast go on strike
All ports on the US East Coast are prepared for strike action starting tomorrow, according to the union. And there are no negotiations scheduled before then, reports Reuters.
- They refuse to deal with almost half a century of wage suppression, the union says in a statement, according to the news agency.
Such a large strike - covering 72 percent of the country's port capacity - could have serious consequences for the American economy, says the Business Roundtable, which represents company management, according to Direkt.
President Joe Biden said on Sunday that he will not join a possible strike, reports Bloomberg.
All ports on the US East Coast are prepared for strike action starting tomorrow, according to the union. And there are no negotiations scheduled before then, reports Reuters.
- They refuse to deal with almost half a century of wage suppression, the union says in a statement, according to the news agency.
Such a large strike - covering 72 percent of the country's port capacity - could have serious consequences for the American economy, says the Business Roundtable, which represents company management, according to Direkt.
President Joe Biden said on Sunday that he will not join a possible strike, reports Bloomberg.
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Dock workers across the US prepare for strike
US dock workers from Texas in the south to Maine in the north are preparing for a massive strike at midnight, WSJ and CNBC report.
The port workers' union International Longshoremen's Association (LLA) demands that the members receive a larger share of the shipping companies' profits, which increased significantly both during the pandemic years and after the attacks in the Red Sea.
According to sources to the WSJ, the LLA is demanding wage increases of at least 77 percent over six years. The union has so far refused an offer from the employers of a 40 percent wage increase.
US dock workers from Texas in the south to Maine in the north are preparing for a massive strike at midnight, WSJ and CNBC report.
The port workers' union International Longshoremen's Association (LLA) demands that the members receive a larger share of the shipping companies' profits, which increased significantly both during the pandemic years and after the attacks in the Red Sea.
According to sources to the WSJ, the LLA is demanding wage increases of at least 77 percent over six years. The union has so far refused an offer from the employers of a 40 percent wage increase.
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A port strike could cost the US 45 billion a day
The port strike looming on the US West Coast at midnight risks crippling large parts of US trade and reigniting inflation. It's warning more major employer organizations and urging President Joe Biden to intervene, the WSJ reports.
According to JP Morgan's analysts, the strike could cost the American economy upwards of 4.5 billion dollars a day, equivalent to roughly 45 billion kroner.
- The effects of the strike have already started, says asparagus importer Tim Ryan, who decided to fly in 68 tons of asparagus from Peru rather than risk them getting stuck at sea and rotting.
Walmart, Ikea and Samsung are some of the companies that are considered to be most exposed to the strike, data from the freight analysis company Import Genius shows, according to CNBC.
- Should the strike only last a week, it will stop the flow of hundreds of thousands of containers to the US, says Michael Kanko at Import Genius.
The port strike looming on the US West Coast at midnight risks crippling large parts of US trade and reigniting inflation. It's warning more major employer organizations and urging President Joe Biden to intervene, the WSJ reports.
According to JP Morgan's analysts, the strike could cost the American economy upwards of 4.5 billion dollars a day, equivalent to roughly 45 billion kroner.
- The effects of the strike have already started, says asparagus importer Tim Ryan, who decided to fly in 68 tons of asparagus from Peru rather than risk them getting stuck at sea and rotting.
Walmart, Ikea and Samsung are some of the companies that are considered to be most exposed to the strike, data from the freight analysis company Import Genius shows, according to CNBC.
- Should the strike only last a week, it will stop the flow of hundreds of thousands of containers to the US, says Michael Kanko at Import Genius.
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