As the International Longshoremen’s Association port workers move closer to a strike at East Coast and Gulf Coast ports, the union is warning that major importers such as LG Electronics, Walmart, Ikea, Samsung, and Home Depot will find no options to divert trade to Canada or the West Coast as other unions close ranks in support of its labor battle.
These companies are among the leading importers at the 14 major ports that an ILA strike would impact, according to ImportGenius. Overall, between 43%-49% of all U.S. imports and billions of dollars in trade monthly are at stake as the union moves closer to the Oct. 1 deadline for a new contract, over which talks between the union and ports management broke down in June and have not resumed. Cruise operations at ports would continue.
“To stop trade entering the U.S. on such a large-scale, even for short period of time, is highly-damaging to the economy so government intervention will be needed …