A prolonged dockworkers' strike has paralyzed U.S. port operations, potentially costing the economy $4.5 billion per day, with significant impacts on goods supply and exports.
"Each day that this goes on it creates a backlog of containers and ships. A three-to-five-day strike will take two weeks to clear if it goes into three-week territory."
The shutdowns could immediately affect the supply of perishable foods, with 75% of banana imports and over half of coffee and tea supplies impacted.
The labor dispute could also hit some companies' bottom lines, including Tyson Foods and Pilgrim's Pride, as their ability to export processed chicken is severely limited.
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