The looming threat of port strikes on the East Coast and Gulf of Mexico is causing widespread concern within the supply chain. Experts warn that delays and increased costs are inevitable, potentially leading to an inflation spike.
The threat of port strikes on the East Coast and Gulf of Mexico is sending shockwaves through the supply chain , and raising concerns that there will be an uptick in inflation. "Goods trans-shipped across the country are not only going to be late but they will cost more, e.g., apparel meant for early winter and the holidays," George Kochanowski, CEO of logistics company Staxxon, told FOX Business.
The issue is that this comes during the most critical time of year for retailers, which told FOX Business that if a new labor deal isn't negotiated by the end of the month, it could have a "devastating impact" on the overall U.S. economy. Jim Gillis, Pacific region president of IMC, a nationwide trucking company that operates at ports, said he's seeing a "litany of issues related to cargo surges – mainly port congestion and pool chassis shortages.
Port Strikes Supply Chain Inflation Labor Negotiations Shipping Delays
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