A strike could cost the economy $5 billion a day, highlighting the critical role dockworkers play in the U.S. supply chain.
President Biden is in a tough position as he balances his pro-union stance with the potential economic fallout of an impending dockworker strike.
Trade groups are urging the White House to intervene, but any move to halt the strike might alienate unions.
JPMorgan's analysts believe the economic implications of the strike would compel a political response, signaling the strike's potential impact.
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