The Taft-Hartley Act: why Biden could use this labor law to preempt a port strike

Published On Sep 26, 2024, 6:00 AM

A potential strike by dockworkers is set to begin as the contract between the International Longshoremen's Association and the U.S. Maritime Alliance expires. This strike could disrupt operations at 36 major ports on the East and Gulf Coasts, handling about 50% of U.S. seaborne imports, leading to an estimated economic impact of $5 billion per day. President Biden has indicated he will not intervene, despite calls from various trade groups to facilitate negotiations. The administration is monitoring the situation and encouraging continued talks between both parties.

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The looming dockworkers strike could result in significant disruptions to supply chains, affecting industries reliant on timely shipments, such as retail and manufacturing. Companies facing potential delays and rising costs may see their stock prices decline due to negative earnings outlooks.

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