The US East and Gulf Coast dockworkers strike left significant economic losses, affecting a wide range of business sectors.
The cost to the U.S. economy is estimated to have exceeded $5 billion, directly affecting industries that depend on ports for importing products such as food, clothing and automobiles, according to an analysis by JP Morgan.
In the long term, such a strike could exacerbate existing inflationary problems in sectors such as food and housing, adding to consumer frustration.
Estimates indicate that each day of strike action could cause weeks of delay in the restoration of the normal flow of goods.
This financial impact is due to the disruption at 14 key ports that handle about half of the country’s maritime imports.
The halt in trade at these ports is particularly affecting the automotive, pharmaceutical and food industries.
What is the impact for consumers?
USA Today warns that the strike could cost up to $5 billion a day, affecting both small and medium-sized businesses and potentially raising prices for consumers already affected by inflation.
“Any strike that lasts more than a week could cause shortages of goods for the holidays,” Eric Clark, portfolio manager at Accuvest Global Advisors, warned USA Today .
The dockworkers’ strike, which stretched from Maine to Texas , is beginning to have a tangible impact on consumers, especially on the prices of essential products.
Although most Christmas goods have already been imported, a prolonged strike could lead to shortages and price increases on key products such as fresh fruit, vegetables, cars and electronics .
