
A strike by dockworkers at dozens of U.S. ports has paralyzed about half of the country’s ocean shipping, and a prolonged dispute could bring the issue close to home for consumers.
The strike, which includes about 45,000 members of the International Longshoremen’s Association (ILA), shut down 14 ports across the country—with hubs in New Jersey, Virginia, and Texas among them. The suspension of cargo shipping on the East and Gulf coasts could hit the U.S. economy to the tune of $4.5 billion per day, JPMorgan estimated.