Longshore workers on the U.S. East Coast and Gulf Coast began their first major strike in nearly 50 years on Tuesday (10/1), sparking fears of renewed inflation.
US dock strike
According to Reuters, dockworkers on the U.S. East Coast and Gulf Coast began the first major strike in nearly 50 years on Tuesday (10/1), halting about half of the country's maritime shipping.
Analysts warned that the strike, which would disrupt food and car shipments at dozens of ports from Maine to Texas, would cost the economy billions of dollars a day and could threaten jobs and stoke inflation.
The International Longshoremen's Association (ILA) union, which represents 45,000 port workers, had been negotiating a new six-year contract with the United States Maritime Alliance (USMX) employer group ahead of Monday's midnight deadline, but no deal was reached, leading to massive disruptions. strike. ILA leader Harold Daggett said the employer had not offered adequate pay rises or agreed to demands to halt job-threatening port automation plans.
Is the era of "One Piece" coming again?
JPMorgan analysts estimate the strikes could cost the U.S. economy about $5 billion a day. A long strike may also bring political risks, especially inflation, which is the most criticized issue of the Biden administration.
President Joe Biden has said they will not use federal power to end the strike, but employers are putting pressure on them to raise contract offers to reach a deal. White House Press Secretary Karine Jean-Pierre said: "Shipping companies have seen record profits since the pandemic began, in some cases profit growth of more than 800%, and wages for workers who have taken risks to keep ports open during the pandemic. It’s only fair that we deserve meaningful growth.”
The strike, the ILA's first major strike since 1977, worries businesses that rely on seaborne exports of goods or to secure vital imports. France's CMA CGM, the world's third-largest container shipper, has issued a force majeure notice in response to the strike and said it may impose additional freight charges on delayed ships.
Will the "One Piece" era come again when container costs increased due to the epidemic?
AI automates shipping, do you still need manual labor?
Bill Ackman, an American billionaire investor and founder of asset management company Pershing Square Capital, retweeted on , the AI car will automatically drive the container to the truck and load it without human assistance. It seems ironic amid calls from American workers to "stop job-threatening port automation plans."
China versus U.S. ports. https://t.co/YW9uyUiawS
— Bill Ackman (@BillAckman) October 1, 2024
This article: US dock strike, will the One Piece era return? Can AI help? First appeared in Chain News ABMedia.
