International Longshoremen Strike on the East & Gulf Coasts
The strike is expected to cause over $560 million in economic damage each day...
A report from Autoblog states that the International Longshoremen’s Association (ILA) has gone one strike due to ongoing contract disputes. The article cites anonymous sources talking to Reuters had noted that meetings between port owners and union representatives have not been held since June.
Estimates from The Conference Board, a non-profit research group, say the strike will cause upwards of $560 million in economic damages each day it continues.
The strike will affect many elements of the automotive and aftermarket industries, with virtually every sector of the U.S. economy expected to feel some type of impact.
While negotiations have not yet begun between the longshoremen and port owners, it is expected that the news regarding the strike will help to restart negotiation conversations, according to Autoblog.
Read the full report here.
