Wkyt

East and Gulf Coast strikes to be felt by consumers in Kentucky, Southern Indiana

T.Johnson49 min ago
LOUISVILLE, Ky. (WAVE) - Tens of thousands of dock workers are preparing to walk off the job Tuesday at ports across the country from Maine to Texas.

While far from any major ports, University of Louisville Associate Professor of Economics Joshua Pinkston says people in Kentucky and Southern Indiana will notice the impact.

"It's going to be bad," Pinkston said. "It's going to be expensive. People are going to feel this."

Pinkston says it's unlikely the companies agree to a ban on automation, one of the union's demands.

Shortages could soon hit perishable products like coffee and some fruits, and an extended strike could also lead to shortages of certain cars.

"It's going to affect companies, manufacturers, supply chains. It's going to affect things you see at the grocery store," Pinkston said. "A lot of what you buy as a consumer, you're going to see be more expensive."

Patrick DeHaan with GasBuddy says consumers shouldn't worry about a major price spike at the pump related to the strike.

"It's going to have a potential major impact when it comes to some of the goods you buy, but thankfully, gasoline, diesel, jet fuel and oil are largely going to be unaffected by this strike," DeHaan said.

Experts say the work stoppage could still cost the economy between several hundred million to a few billion dollars each day.

Pinkston says the longer the strike lasts, the longer its impacts will be felt.

"It's a bigger disruption to supply chain, a longer disruption to supply chain, more having to reroute, kind of move things around," Pinkston said. "It's going to show you how important trade is."

0 Comments
0