Article originally appeared on www.zerohedge.com.
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This story has been all over the freight industry press for weeks, but has not yet hit the front pages of major US papers. Ryan Peterson of Flexport sounded the alarm last week about a looming labor dispute that could impact trade at American seaports.
The economic impact of a strike, according to Peterson, would be catastrophic:
In 2023, U.S. seaport trade totaled $2.12 trillion. If the ILA strikes, U.S. East and Gulf Coast ports—which handle 72% of that trade—would grind to a halt.
The ILA union has voted to prepare for a strike beginning October first, and the market does not believe this is an idle threat.
Potential Fallout
If the strike goes ahead it could be a major issue for Democrats: economic problems tend to hurt the incumbent …
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