Biden Administration Urged to Prevent $5 Billion Daily Port Strike
- Trade groups have appealed to the Biden administration to intervene in a potential longshoremen strike.
- The contract between the International Longshoremen's Association and port terminal operators is set to expire, impacting 45,000 workers.
- Despite the economic risks, President Biden has chosen not to invoke the Taft-Hartley Act, urging parties to negotiate.
In the United States, trade groups representing major retailers and manufacturers have urged the Biden administration to intervene in a looming strike by longshoremen, which could potentially cost the economy $5 billion a day. The contract between the International Longshoremen's Association and port terminal operators is set to expire, affecting approximately 45,000 workers across ports from Maine to Texas. Despite the growing concerns, President Biden has stated he will not invoke the Taft-Hartley Act to break the strike, emphasizing his pro-union stance. The Taft-Hartley Act allows presidential intervention in labor disputes deemed a national emergency, but Biden's administration has encouraged negotiations instead. As the deadline approaches, the impact of the potential strike is already being felt, with some businesses taking preemptive measures to avoid disruptions in their supply chains.