The National on Nostr: US port strike: Will Middle East consumers see higher prices ahead of Christmas? ...
US port strike: Will Middle East consumers see higher prices ahead of Christmas?
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International Longshoremen’s Association (ILA) members prepare to strike on October 1, 2024; strike could halt operations at 14 US East Coast ports; first strike since 1977; ILA and United States Maritime Alliance (USMX) have until September 30, 2024, to reach a deal; contract began on October 1, 2018; Harold Daggett warns of a 'sleeping giant' ready to strike; potential surcharges of $1,000 to $3,000 per container; Middle East consumers may face significant price hikes; UAE is the top export market for US goods in the MENA region; bilateral trade reached $31.4 billion in 2023; sectors vulnerable to disruptions include retail, automotive, and food; US exports to Arab countries accounted for 3.5% of overall US exports in 2022; strike could impact Biden administration ahead of 2024 presidential election; potential for increased demand for leased containers.
#UsPortStrike #Ila #MiddleEast #Shipping #Inflation #Trade #BidenAdministration #ConsumerPrices #Retail #Automotive
https://www.thenationalnews.com/business/economy/2024/09/30/port-strike-us-ila/
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International Longshoremen’s Association (ILA) members prepare to strike on October 1, 2024; strike could halt operations at 14 US East Coast ports; first strike since 1977; ILA and United States Maritime Alliance (USMX) have until September 30, 2024, to reach a deal; contract began on October 1, 2018; Harold Daggett warns of a 'sleeping giant' ready to strike; potential surcharges of $1,000 to $3,000 per container; Middle East consumers may face significant price hikes; UAE is the top export market for US goods in the MENA region; bilateral trade reached $31.4 billion in 2023; sectors vulnerable to disruptions include retail, automotive, and food; US exports to Arab countries accounted for 3.5% of overall US exports in 2022; strike could impact Biden administration ahead of 2024 presidential election; potential for increased demand for leased containers.
#UsPortStrike #Ila #MiddleEast #Shipping #Inflation #Trade #BidenAdministration #ConsumerPrices #Retail #Automotive
https://www.thenationalnews.com/business/economy/2024/09/30/port-strike-us-ila/