US East Coast port strike likely as union, management trade wage offers

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The story "US East Coast port strike likely as union, management trade wage offers" was covered 13 hours ago by Business Standard, a news publisher based in India.

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US East Coast port strike likely as union, management trade wage offers - Business Standard

Quick Summary:

Like other shippers in his position, he was resigned to his fate."Everyone will have the same problem," Bhardwaj said.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.

The labor contract between the International Longshoremen's Association (ILA) union representing 45,000 port workers and the United States Maritime Alliance (USMX) employer group expires late on Monday, with negotiations at an impasse over pay.

A strike would cost the US economy roughly $5 billion a day, JP Morgan analysts estimated, as shipments of food, retail goods and other products are disrupted from busy terminals including New York, Baltimore and Houston.