WSWA Urges Biden To Intervene To End Port Strike
October 3, 2024The Wine and Spirits Wholesalers of America (WSWA) has signed on to a new letter imploring President Biden to step in and end the east and gulf coast port strike. According to the letter, “the strike will cost the economy billions of dollars a day,” with the signing groups going on to say that “the only way the parties can agree on a new deal is if they return to the negotiating table with the help of a federal mediator to ensure they bargain in good faith.”
The strike is over a combination of wage disputes and the threat of automation in the ports, with the International Longshoreman’s Association fighting for both higher wages and contract-guaranteed limits to future automation. The strike began at 5 p.m. on Monday, September 30 and could cost the U.S. economy anywhere from hundreds of millions to billions of dollars per day as goods—including wines and spirits, fruit, cars, and mechanical parts—sit on cargo ships.
Wine and spirits companies have noted that overall inventories remain high in the U.S., but the longer the strike endures the more it will impact the market over the crucial end-of-year holiday period.—Shane English
Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.Tagged : WSWA
