The International Longshoremen’s Association (ILA) initiated a strike on Tuesday, effectively closing numerous ports along the East and Gulf Coasts and mobilizing thousands of union members amid stalled contract negotiations with the United States Maritime Alliance (USMX). Key issues in the negotiations include demands for a $5 hourly wage increase over six years and concerns about automation in ports. Various trade associations and government officials, including President Biden, have urged for a resolution, warning of severe economic consequences, including a potential $5 billion daily loss, if the strike continues.

Source: https://www.supplychaindive.com/news/ila-port-strike-biden-teamsters-nam-nrf-reactions/728590/