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Time Is Running Out: US Port Strike Could Begin Tuesday; Goldman Finds Highly Exposed Retailers [zero hedge]
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Time Is Running Out: US Port Strike Could Begin Tuesday; Goldman Finds Highly Exposed Retailers Time is running out for the International Longshoremen's Association (ILA) and the US Maritime Alliance (USMX)—a coalition of port operators and carriers—to form a new labor contract as the existing one expires at midnight . A no-deal scenario would mean thousands of longshoremen at three dozen facilities across 14 Gulf and East Coast ports would begin striking at 12:01 am EST . Tuesday would mark the beginning of a major supply chain storm (inflation surge) in a no-deal scenario. Goldman analyst explained last week that a walkout by ILA members would jeopardize $5 billion in daily international trade coming into the Gulf and East Coast ports. Goldman's Jordan Alliger told clients , " Upwards of $4.9bn per day is at risk in international trade along the East and Gulf coasts, along with the potential for supply chains to likely become less fluid due to emergent congestion, which in turn coul
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