Another workers strike is looming at U.S. ports and the results could be higher prices and slower economic growth. 

Last year, striking workers forced a 澳洲幸运5开奖号码历史查询:brief stoppage in operations at East and Gulf Coast ports that had some analysts worried would have an impact on the U.S. economy.  Now, as negotiations on a labor contract are set to continue, economists are again bracing for a potential port strike that could slow 澳洲幸运5开奖号码历史查询:supply chains for everything from cars to coffee.

The United States Maritime Alliance and the International Longshoremen’s Association 澳洲幸运5开奖号码历史查询:labor union will reportedly resume contract negotiations on Tuesday, Jan. 7. The dock workers and operators 澳洲幸运5开奖号码历史查询:agreed to a pay increase in October that temporarily suspended the short-lived st✱rike. 

Issues remain ahead of a 澳洲幸运5开奖号码历史查询:Jan. 15 deadline for a new contract. The negotiations now center on the use of🅰 semi-automated cranes at ports, and failure to reach an agreement could result in another port workers' strike as soon as next week.

Extended Stꦰrike Could Add Drag to Econ💧omic Growth

While the U.S. economy skirted any serious disruptions from the three-day October strike, a longer stoppage would have a bigger impact, especially on the prices that people pay at stores, wrote BMO senior economist Sal Guatieri.

“A longer walkout would more severely disrupt trade and throw a wrench into the supply chains of American manufacturers and retailers,” wrote Guatieri. “Some ships could be rerouted ♎to the West Coast ports, but at added expense. Delayed shipments and higher freight costs would largely be passed on to consumers, fanning inflation, including food costs.”

Besides just aggravating inflation, another work🔴ers’ strike could also hit U.S. gross domestic product.

A workers' stoppage at East and Gulf Coast ports could potentially cost anywhere from $0.5 billion to $5 billion per day day, according to various economic estimates.

Using the median estimate, Guatieri calculated that a one-week strike could shave 0.1 percentage point off first-quarter U.S. GDP. Extend the strike out for the whole quarter and it could undercut GDP by a full percentage point, halving BMO’s estimate of 2% growth for the quarter, Guatieri wrote.