As the International Longshoremen’s Association port workers move closer to a strike at East Coast and Gulf Coast ports, the union is warning that major importers such as LG Electronics, Walmart, Ikea, Samsung, and Home Depot will find no options to divert trade to Canada or the West Coast as other unions close ranks in support of its labor battle.
These companies are among the leading importers at the 14 major ports that an ILA strike would impact, according to ImportGenius. Overall, between 43%-49% of all U.S. imports and billions of dollars in monthly trade are at stake as the union moves closer to the Oct. 1 deadline for a new contract, over which talks between the union and ports management broke down in June and have not resumed. Cruise operations at ports would continue.
“To stop trade entering the U.S. on such a large-scale, even for short period of time, is highly-damaging to the economy so government intervention will be needed to bring the matter to a resolution for the good of the nation,” warned Peter Sand, chief shipping analyst at Xeneta.
“A strike lasting just one week will impact schedules for ships leaving the Far East on voyages to the U.S. in late December and throughout January.”
While some logistics managers say Canada and the West Coast are options for vessels to divert to and unload cargo, the ILA has union chapters at the Atlantic Coast and Great Lakes ports in Canada. […]
— Read More: endtimeheadlines.org
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
