The International Longshoremen’s Association has confirmed plans for a port strike on the U.S. East Coast and Gulf of Mexico starting Tuesday. The union, representing dock workers from Maine to Texas, cites long-standing wage issues. The strike could severely impact supply chains, marking the first coast-wide strike since 1977. President Joe Biden stated he would not intervene to prevent a potential dock workers' strike if a new contract isn't reached by the Oct. 1 deadline, emphasizing his support for collective bargaining. The Taft-Hartley Act allows presidents to impose a cooling-off period in labor disputes.
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00:00It's Benzinga, and here's what's on the block.
00:02The International Longshoremen's Association has confirmed plans for a port strike on the
00:07U.S. East Coast and Gulf of Mexico starting Tuesday.
00:10The union representing dockworkers from Maine to Texas cites longstanding wage issues.
00:16The strike could severely impact supply chains, marking the first coastwide strike since 1977.
00:22President Joe Biden stated he would not intervene to prevent a potential dockworker strike if
00:26a new contract isn't reached by the October 1st deadline, emphasizing his support for
00:30collective bargaining.
00:32The Taft-Hartley Act allows presidents to impose a cooling-off period in labor disputes.
00:36For all things money, visit Benzinga.com.