HOUSTON – The eyes of the business community are on the port of Houston due to the possible effects that the dockers’ strike may have on the economy in this last quarter of the year.
Although some analysts believe that this could have a severe effect, others assure that companies are well prepared to avoid a shortage of products that could affect the family basket.
He International Longshoremen’s Union (ILA) has said that the strike involves approximately 45,000 workers, including workers at the Port of Houston, as well as others located on the Gulf of Mexico and the east coast of the country. This would be the first work stoppage of this type in 47 years.
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Devastating economic impact
According to expert estimates, the strike could cost the national economy about $5 billion a day. The last time a similar shutdown occurred, in 1977, it lasted 45 days, raising concerns about the potential long-term impact.
“I’m concerned about vegetables and legumes that come from Central and South America. Those items are perishable and if the port closes, that’s where the price of those foods could potentially increase for the consumer,” warns Margaret Kidd, a chain professor. supplied by the University of Houston.
Labor demands and negotiations
Stevedores demand a salary increase of up to 70%. For its part, the United States Maritime Alliance (USMX) claims to be in negotiations and has offered to “increase wages by almost 50%, triple pension contributions and strengthen health care options.”
Dr. Daniel Pérez Listón, a finance professor at the University of Houston, points out that although “the government may not intervene immediately,” the situation would have “effects for everyone: the country, Texas y Houston“.
Economic context
The Port of Houston, one of the most lucrative in the world, saw its profits increase by 10% last year, surpassing $500 billion.
The National Chamber of Commerce has requested the intervention of the White House in the face of the possible crisis, especially considering the proximity of the end-of-year holidays and the next presidential elections.
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