October 2, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Dockworkers at ports along the U.S. East and Gulf coasts went on strike after midnight on Tuesday, halting cargo operations that supply U.S. supply chains and support the overall economy.

The federal government has been involved throughout the negotiation process--working with both parties to avoid a strike that would affect ports that handle roughly 50% of U.S. imports--although President Joe Biden has so far ruled out federal intervention. According to the non-profit research organization Conference Board, a one-week strike could cost the U.S. economy nearly $3.8 billion and increase the cost of consumer goods.