Simply Trade

[Breaking News]: The Economic Fallout of the Port Strike

Listen Later

"It's going to cost about $5 billion per day."

In this emergency news segment, experts discuss the ongoing port strike that began on October 1st, its significant economic impact, and the challenges it poses to the supply chain. Eric Hargraves delves into the union's demands, the implications of automation on labor relations, and potential government interventions. 


Takeaways

  • The port strike is costing the economy approximately $5 billion per day.
  • Automation is a key issue in labor negotiations at the ports.
  • Government intervention may be necessary to resolve the strike.
  • Air freight capacity is currently under high demand due to the strike.
  • CTPAT membership offers advantages during port disruptions.
  • The automotive industry is particularly vulnerable to the strike's effects.
  • Diversion of cargo to other ports presents logistical challenges.
  • Importers should consider trade disruption insurance for future crises.
  • Collaboration with industry advocacy groups can amplify pressure on policymakers.
  • Proactive planning and inventory management are crucial for importers. 

    • Connect with Simply Trade Podcast:

    - Subscribe: https://www.youtube.com/channel/UCdmyGU5foKm4aFlpo7Oms4g?sub_confirmation=1

    - LinkedIn: https://www.linkedin.com/showcase/simply-trade-podcast/

    - Twitter: https://twitter.com/SimplyTradePod

    - Website: https://globaltrainingcenter.com/simply-trade-podcast/

    Contact Us/ Suggest Topics

    Contact [email protected] or message @SimplyTradePod for:

    Advertising and sponsoring on Simply Trade

    Requests to be on the show as guest.

    Suggest any topics you would like to hear about

     

    Credits:

    Host: Andy Shiles: https://www.linkedin.com/in/andyshiles/

    Host/Producer: Lalo Solorzano: https://www.linkedin.com/in/lalosolorzano/

    Co-Producer/Editor: Mara Marquez: https://www.linkedin.com/in/maramarquez85/

     

     

    ...more
    View all episodesView all episodes
    Download on the App Store
    Simply TradeBy Global Training Center
    • 4.6
    • 4.6
    • 4.6
    • 4.6
    • 4.6

    4.6

    22 ratings

    More shows like Simply Trade

    View all
    WSJ Your Money Briefing by The Wall Street Journal

    WSJ Your Money Briefing

    1,725 Listeners

    WSJ What’s News by The Wall Street Journal

    WSJ What’s News

    4,358 Listeners

    Trumponomics by Bloomberg

    Trumponomics

    355 Listeners

    WSJ Tech News Briefing by The Wall Street Journal

    WSJ Tech News Briefing

    1,643 Listeners

    Macro Musings with David Beckworth by Mercatus Center at George Mason University

    Macro Musings with David Beckworth

    384 Listeners

    Masters of Scale by WaitWhat

    Masters of Scale

    3,989 Listeners

    GZERO World with Ian Bremmer by GZERO Media

    GZERO World with Ian Bremmer

    798 Listeners

    The Trade Guys by CSIS | Center for Strategic and International Studies

    The Trade Guys

    148 Listeners

    FT News Briefing by Financial Times

    FT News Briefing

    665 Listeners

    Two Minutes in Trade by Sandler, Travis & Rosenberg, P.A.

    Two Minutes in Trade

    32 Listeners

    Morning Brew Daily by Morning Brew

    Morning Brew Daily

    3,007 Listeners

    Morning Wire by The Daily Wire

    Morning Wire

    26,641 Listeners

    The Big Take by Bloomberg

    The Big Take

    156 Listeners

    The Markets by Goldman Sachs

    The Markets

    75 Listeners

    The Economics Show by Financial Times

    The Economics Show

    139 Listeners