The strike on Florida’s ports by the 45,000 members of the Longshoreman Union Group (ILA) could cost the U.S. economy billions, according to market analysts.
“If this goes over a month, it could have a toll on the economy into the billions and hurt the growth rate in the U.S.,” said Fox Business economist Larry Kudlow.
“If the port companies don’t meet the demands the unions want, ee’ll shut them down,” said ILA Union president Harold Daggett.
Free market economic groups like Americans for Prosperity (AFP) are urging the Biden administration to invoke its authority under the Taft-Harley Act and impose an 80-day cooling-off period so that workers can go back to work while negotiations continue.
“We encourage the administration and congress to work toward a federal labor law regime that works better for workers and employers alike,” said AFP.
AFP’s VP of Government Affairs Akash Chougule blasted the Biden-Harris Administration for which he says is a “lack of leadership.
“American families could face shipping delays, supply shortages, and even higher prices this Thanksgiving due to the ongoing strikes,” Chougule said. “For three and a half years, through their rhetoric and their actions, this Administration has encouraged and emboldened this kind of union agitation. Now, they are turning a deaf ear to the crisis and refusing to invoke their authority under the Taft-Harley Act to avert consequences for American families and workers.”
Democrats downplay the union strike. But the failure to recognize the hurt consumers may experience could hurt them at the polls this November.
“I don’t think they realize how damaging these strikes could be to the economy. If Democrats were serious about this, they would ask both sides to sit down,” said David Williams, President of the Taxpayers Protection Alliance.
Both Williams and Chougule agree that longer the strike is, inflation may tick back up with the cost being pushed onto consumers.
“People are thinking about Thanksgiving and Christmas already and these damaging strikes will lead to higher prices for all Americans just before the holiday season,” said Chougule.
