Port Strike on East Coast Could Cost a Billion Dollars a Day

“As talks between the International Longshoremen’s Association and the U.S. Maritime Alliance take place in a shroud of secrecy to avert a strike by 14,500 longshoremen members working at 14 major East Coast ports on December 30, one manufacturing association puts the cost of a potential strike at a billion dollars a day.

Robyn Boerstling, director of transportation and infrastructure policy at the National Association of Manufacturers (NAM) says manufacturers have been making preparations to reduce the impact on supply chains and avoid disruptions to production capabilities in anticipation of a strike.

(Read More: Talks to Avoid East Coast Port Strike to Resume, Details Kept Mum)

“Manufacturers are trying to protect jobs and minimize the damage of potential supply chain disruptions from a costly strike, which could cost an estimated billion dollars a day,” she told CNBC.

Boerstling said some manufacturers have increased their monthly export volumes in advance of the December 30 walk-out date, while others have increased inventories and many have diverted cargo….”

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