Tens of thousands of dockworkers are officially on strike after the International Longshoremen's Association and the US Maritime Alliance failed to reach consensus on a new labor contract.
The walkout is set to shutter 36 ports in the region, which handle about half of all US ocean imports and could cost the economy $540 million per day.
The strike comes at a critical economic and political moment: roughly one month out from the US presidential election, as consumers and businesses alike begin to feel relief from recent inflation.
Most large retailers have had the time to prepare, stock up their supply chains, and place their holiday orders early. The Fortune 100s - your Walmarts and even Home Depots - are probably going to be fine.
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