On the Atlantic coast of the United States, port workers went on strike for the first time in 50 years

Ports on the Atlantic coast of the United States stopped work as tens of thousands of port workers went on strike for the first time in 50 years, the Financial Times reports.

The strike began after the expiration of the collective agreement of the International Association of Port Handlers (ILA), while negotiations on a new agreement, which will cover 25,000 workers, have been deadlocked for several months due to disagreements over pay and labor automation, says a representative of the US Maritime Alliance ( USMX), which protects the interests of employers.

The strike affected 36 ports from Maine to Texas, which handle a quarter of the country's foreign trade cargo traffic ($3 trillion a year) and 57% of US container traffic.

The ILA says it is prepared to strike until its demands are met, even though it could halt the supply of food, pharmaceuticals, electronics and clothing, crippling US trade. At the same time, they promise to continue processing military cargo.

At the same time, the work of the oil and gas terminals did not stop, as their employees do not belong to trade unions. Tankers for the transportation of oil and LNG and bulkers for the transportation of grain and other bulk cargoes usually call at other ports that are not participating in the strike.

According to estimates by JPMorgan Chase & Co., the strike will last a maximum of a week and cost the American economy $5 billion per day, while the Conference Board estimates losses at $540 million per day.

President Biden has said he will not force port workers to return to work, as required by US law in the event of a threat to national security.

USMX said it has improved its wage offers and offered to extend the current contract to resume negotiations on other issues and reach a definitive agreement.