Dockworkers Strike Could Cost U.S. Economy $5 Billion Every Day

A strike by 45,000 dockworkers has brought shipping to a standstill at East Coast and Gulf Coast ports, now entering its second day without any negotiations. This disruption is impacting the delivery of essential goods, from food to cars, across a wide range of ports from Maine to Texas.

Experts are sounding the alarm, warning that if this strike continues, it could cost the economy a staggering $5 billion every day. President Joe Biden has taken notice and is urging port employers to improve their offers to the dockworkers. “It’s time for them to sit at the table and get this strike done,” he said on Wednesday, pointing out how much profit port owners have made since the pandemic began.

The situation is raising concerns about supply chains and the availability of everyday items. As the strike continues, both sides are under pressure to reach an agreement and prevent further economic fallout.